Federal High Court Orders Interim Forfeiture Of N11.14 Billion Linked To Ex-CBN Governor Godwin Emefiele

A Federal High Court in Lagos has granted an interim forfeiture order for properties valued at N11.14 billion linked to former Central Bank of Nigeria (CBN) governor Godwin Emefiele.

Justice Chukwujekwu Aneke made the ruling on Wednesday following a motion filed by the Economic and Financial Crimes Commission (EFCC).

EFCC counsel Rotimi Oyedepo (SAN) argued that the properties, primarily located in high-end areas of the Federal Capital Territory, Abuja, were acquired by proxy using fraud proceeds.

Oyedepo identified a former CBN staff member and two current employees as Emefiele’s accomplices in the alleged scheme.

Justice Aneke instructed the EFCC to publicise the interim forfeiture order in the ThisDay newspaper, allowing any interested parties to present their case before a final forfeiture decision is made.

The court has scheduled a hearing for the motion for final forfeiture on June 21.

Also, Justice Ayokunle Faji directed the EFCC to publish the forfeiture order in a national newspaper.

He mandated that any individuals with claims to the funds must appear within 14 days to justify why the funds should not be permanently forfeited to the Federal Government.

The court order resulted from an ex parte application marked FHC/L/CS/232/2024, presented by EFCC counsel Bilikisu Buhari-Bala. Buhari-Bala asserted that the funds in question were reasonably suspected to be proceeds of Emefiele’s unlawful activities.

The former CBN governor is currently embroiled in three separate criminal trials.

Read: Police Arrest Zamfara Assembly Member, Former LGA Chairman Over Banditry

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