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Anti-corruption

Court orders interim forfeiture of Emefiele’s N11.14bn properties to FG

The Federal High Court in Lagos has granted an order of interim forfeiture of properties linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

Godwin-Emefiele, former governor of the Central Bank of Nigeria
Godwin-Emefiele, former governor of the Central Bank of Nigeria

Lagos, Nigeria

The Federal High Court in Lagos has granted an order of interim forfeiture of properties linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

The properties were valued at N11,140,000,000.00.

The order was granted by Justice Chukwujekwu Aneke following an ex parte motion filed and argued by Rotimi Oyedepo, a senior advocate of Nigeria who is the counsel to the Economic and Financial Crimes Commission (EFCC).

The court ordered the interim forfeiture of the properties to the federal government.

Oyedepo who led Bilkisu Buhari-Bala and Chineye Okezie in the proceedings informed the court that the former CBN governor was suspected of having bought the choice properties by proxy, with the proceeds of fraud. 

He said the properties are mostly located in highbrow parts of the Federal Capital Territory (FCT), Abuja.

The EFCC also named three CBN Staff, Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde as Emefiele’s accomplices who used their positions and influence to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.

The judge also ordered the anti-graft agency to publish the order in the newspaper for any interested party to show cause why the final order of forfeiture of the said properties should not be made.

The court adjourned till the 21st of June for the hearing of the motion for final forfeiture.

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