In a significant legal development, the Federal High Court in Lagos has ordered the interim forfeiture of $4,719,054, N830,875,611, and multiple properties linked to former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele.
The order, issued by Justice Yellim Bogoro on Thursday, May 23, 2024, followed an ex-parte application by the Economic and Financial Crimes Commission (EFCC).
Justice Bogoro stated, “I have listened to the submission of the applicant’s counsel and also perused the motion just moved, together with the affidavit in support. I find merit in the application and same is hereby granted as prayed.
“The applicant should publish this order in any daily newspaper circulating all over the federation for anybody interested to show cause why the final order of forfeiture should not be made. Case adjourned to July 2, for motion for final forfeiture.”
The forfeited funds to the federal government in the interim are held in accounts with First Bank; Titan Bank and Zenith Bank, being operated by Omoile Anita Joy; Deep Blue Energy Service Limited; Exactquote Bureau De Change Ltd; Lipam Investment Services Limited; Tatler Services Limited; Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.
However, the properties forfeited to the “federal government include 94 units of an 11-floor building under construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, Ikoyi, Lagos; AM Plaza, 11-floor office space on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B. Lot twin completed property in Lakes Estate, Lekki, Lagos.”
Also included are “one plot measuring 1,038.069 sqm, at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services; a land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos and a Property Situate on 8, Bayo Kuku Road, lkoyi, Lagos.”
“The properties and funds are reasonably suspected to be proceeds of unlawful activities,” the EFCC asserted, seeking the interim forfeiture under Section 17 of the Advance Fee Fraud and Other Fraud Related Offence Act, 2006, and Section 44(2)(b) of the Constitution.
This legal move adds to Emefiele’s mounting challenges, as he faces multiple charges of fraud and abuse of office in both Abuja and Lagos. He and his co-defendant, Henry Isioma-Omoile, were arraigned on April 8, 2024, on 26 counts including accepting gratification and fraudulently obtaining and conferring corrupt advantages.
The EFCC’s detailed case highlights that “Emefiele allegedly received millions of dollars in cash through proxies, further complicating his legal troubles. “
The case, already a high-profile affair, underscores the Nigerian government’s intensified efforts to address corruption at the highest levels of its institutions.