The Federal High Court in Lagos State has ordered the temporary forfeiture of $2.045 million in cash, seven prime properties, and shares linked to the former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Ifeanyi Emefiele.
Justice Akintayo Aluko issued the order on Thursday after Mr. Rotimi Oyedepo (SAN) of the Economic and Financial Crimes Commission (EFCC) presented an application.
Mr. Oyedepo, who led a team including Chineye C. Okezie and Zeenat Atiku Bala, filed the suit under case number FHC/L/MISC/500/24.
The forfeited assets include two share certificates from Queensdorf Global Fund Limited Trust and several high-value properties located in Lekki and Ikoyi, Lagos, as well as Agbor in Delta State.
The properties include: Two identical detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos. An undeveloped land of 1919.592 sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos. A bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi, Lagos. A four-bedroom duplex at 12a Probyn Road, Ikoyi. An industrial complex under construction on a 22-plot land in Agbor, Delta State. Eight undetached apartments on a 2457.60 sqm plot at No. 8a Adekunle Lawal Road, Ikoyi. A full duplex with all appurtenances on a 2217.87 sqm plot at 2a Bank Road, Ikoyi, Lagos.
Mr. Oyedepo argued that these assets were suspected to be proceeds of illegal activities, referencing Section 17 of the Advanced Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, Section 44 (2)(B) of the 1999 Constitution, and the court’s inherent jurisdiction.
He supported the motion with an affidavit from EFCC investigator Idi Musa.
After reviewing the submission and legal authorities, Justice Aluko granted the interim forfeiture and instructed the EFCC to publish the order in a national newspaper, such as The Nation, Punch, or The Guardian.
Interested parties have 14 days to contest the order before a final ruling is made in favor of the Federal Government of Nigeria.
In his affidavit, Idi Musa detailed that the EFCC investigated significant fraudulent activities involving senior CBN officials, which led to the discovery of properties likely acquired with illicit funds.
He stated that the former CBN governor, Godwin Emefiele, was implicated in negotiating kickbacks for foreign exchange allocations.
The investigation also revealed that properties were acquired through shell companies used for laundering money and that the funds for these acquisitions were traced to Emefiele’s unlawful activities.
Musa also reported that substantial funds were recovered from Mr. Ifeanyi Collins Omeke at Zenith Bank, linking these assets to Emefiele’s alleged illegal activities.
The affidavit emphasized that the properties in question were purchased with money from unlawful sources, thus justifying the interim forfeiture.
The court scheduled September 5 for further hearings of the case.
