Court orders forfeiture of N11.1bn property linked to Emefiele
By Emma Njoku
The Federal High Court in Lagos has ordered the interim forfeiture of properties valued at N11,140,000,000 linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele,
The presiding judge, Chukwujekwu Aneke, gave the order, yesterday, following a motion filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo,
Oyedepo had told the court that Emefiele was suspected to have purchased prime properties located in upscale areas of the Federal Capital Territory (FCT), Abuja, with proceeds from fraud through proxies.
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 and allow interested parties to contest the final forfeiture. Aneke adjourned the hearing for the motion for final forfeiture to June 21.
In May, Justice Yellim Bogoro of the 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.
Another judge, Ayokunle Faji, on May 29, also ordered the interim forfeiture of $1,426,175.14 linked to the former CBN governor.
