HomeCourt room newsCourt Orders Another Forfeiture Of N11b Property Linked To Emefiele

Court Orders Another Forfeiture Of N11b Property Linked To Emefiele


The Federal High Court sitting in Ikoyi, Lagos, yesterday granted the Federal Government an order of interim forfeiture of property valued at N11,140,000,000.00 linked to the embattled former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

Justice Chukwujekwu Aneke gave the order following a motion filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo (SAN), who led Bilkisu Buhari-Bala and Chineye Okezie during the proceedings.

Oyedepo told the court that Emefiele was suspected to have bought the choice property by proxy with funds suspected to be proceeds of fraud.

The property, he said, are mostly located in highbrow parts of the Federal Capital Territory (FCT) in Abuja.

The EFCC’s counsel said the anti-graft agency identified a former CBN worker and two current ones as Emefiele’s accomplices in the alleged fraud.

Justice Aneke ordered the EFCC to publish the order in a national newspaper so that any interested party could show cause why the final order of forfeiture should not be made.

The judge adjourned till June 21 to hear the motion for final forfeiture.

Justice Ayokunle Faji of the Federal High Court in Lagos had ordered the interim forfeiture of $1,426,175.14 linked to Emefiele on May 30.

The judge had directed the EFCC to publish the interim forfeiture order in a national newspaper.

He also directed that anyone interested in the funds must appear before him within 14 days to show cause why the funds should not be permanently forfeited to the Federal Government.

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