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Court orders forfeiture of N11.1bn properties linked to Emefiele


Federal high court sitting in Lagos has granted the federal government an order of interim forfeiture of properties valued at N11,140,000,000 linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

Chukwujekwu Aneke, the presiding judge, made the order on Wednesday, following a motion filed and argued by Rotimi Oyedepo, the counsel to the Economic and Financial Crimes Commission (EFCC).

The senior lawyer informed the court that Emefiele was suspected of purchasing prime properties through proxies using proceeds from fraud.

These properties are said to be primarily located in upscale areas of the federal capital territory (FCT), Abuja.

The EFCC also identified three CBN officials — Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde — as Emefiele’s accomplices.

They allegedly used their positions to secure retail and special allocations of foreign exchange for various companies in return for kickbacks.

After granting the interim order of forfeiture, the judge directed the EFCC to publish the order in a newspaper, allowing any interested parties to contest the final forfeiture.

Aneke adjourned the hearing for the motion for final forfeiture to June 21.

In May, Yellim Bogoro, judge of a federal high court in Lagos, also granted EFCC’s prayers on interim forfeiture of $4,719,054, N830,875,611, and other assets linked to Emefiele.

On May 29, another judge, Ayokunle Faji, also ordered the interim forfeiture of $1,426,175.14 linked to the former CBN governor.

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