Federal High Court in Lagos, on Thursday, August 15, ordered the interim forfeiture of $2.04m and seven properties linked to former Governor of the Central Bank of Nigeria, Mr Godwin Emefiele.
Justice Akintayo Aluko made the order following an application by the Economic and Financial Crimes Commission to investigate alleged fraudulent activities linked to Emefiele.
The properties include real estate in Lekki and Ikoyi, Lagos, as well as a large industrial complex under construction in Agbor, Delta State.
Justice Aluko stated that the interim forfeiture was necessary to prevent the dissipation of the assets suspected to be proceeds of unlawful activities.
“The properties listed in this application are reasonably suspected to have been acquired through proceeds of unlawful activities,” he said.
The properties, as listed, include two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; a 1,919.592 sqm undeveloped land on Oyinkan Abayomi Drive (formerly Queens Drive) in Ikoyi; a bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex on 22 plots in Agbor, Delta State; eight apartments on Adekunle Lawal Road, Ikoyi; and a full duplex at 2a Bank Road, Ikoyi.
In addition to the properties, the court also ordered the interim forfeiture of two share certificates of Queensdorf Global Fund Limited Trust, a company allegedly linked to Emefiele.
EFCC counsel, Rotimi Oyedepo, (SAN), who brought the application for the orders in a suit marked FHC/L/MISC/500/24, argued that the assets were obtained through fraudulent activities.
Oyedepo said: “The money and properties in question are reasonably suspected to be proceeds of unlawful activities. We urge the court to grant this application to prevent any further dissipation of these assets.”
Oyedepo said the court was empowered to make the interim forfeiture order pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006 and Section 44 (2)(b) of the 1999 Constitution.
The EFCC’s investigation, as detailed in court documents, revealed that Emefiele allegedly negotiated kickbacks in exchange for foreign exchange allocations to companies in need of foreign currency for legitimate business purposes.
An investigator with the EFCC, Idi Musa, in his deposition, claimed that “These properties were acquired through Shell companies, all linked to Emefiele, with the sole purpose of laundering money.”
Musa further testified that the EFCC had recovered significant evidence, including title documents and company seals, during searches.
He said, “Sometime in 2018, one Olusola Bodunde acquired a parcel of land located at Hakeem Odumosu Street, Lekki Phase 1, Lagos and partnered with one Idowu Sharafa to develop three units of 5 bedroom duplexes with attached BQ on the land.
“Sometime in 2020, Omeke approached Bodunde and subsequently paid the total sum of N460, 000, 000, for two of the three developed duplexes, purchased in the name of Amrash Ventures Limited, all on behalf and on the instructions of Godwin Emefiele.
“That the sum of $2,045,000m and the shares certificate, were also recovered in the office of Mr. Collins Ifeanyi Omeke.
“Upon investigation, we discovered that Mr. Omeke purchased and perfected the title documents for several properties on behalf of Mr. Emefiele.
“Most of the fraudulently earned funds were invested in acquiring these properties, which are now sought to be forfeited to the Federal Government.”
Justice Aluko, after granting an interim forfeiture order, directed the EFCC to publish the same in a national newspaper and gave 14 days for anyone who has an interest in the funds and the assets to appear in court to show cause why they should not be permanently forfeited to the Federal Government.
The case has been adjourned to September 5, 2024, for further hearing.
The forfeiture on August 15 is the latest in the series of forfeiture orders obtained by the anti-graft agency against Emefiele, who is facing multiple corruption charges.
On May 29, the same Federal High Court in Lagos ordered the forfeiture of $1.4m linked with the embattled apex bank ex-helmsman.
Also, on May 23, the EFCC obtained forfeiture orders on $4.7m, N830m, and properties linked to Emefiele.
There was also a separate permanent forfeiture order on choice properties worth N12.18bn from Emefiele.
