JUST IN: Court Sets Fresh Date To Rule on Forfeiture of $2m, Property Linked To Emefiele
- A federal high court in Lagos has set a date for a ruling on the EFCC's application for the final forfeiture of $2.045 million, seven properties, and shares linked to former CBN governor Godwin Emefiele.
- The EFCC's counsel, Rotimi Oyedepo, argued for forfeiture, stating that no objections were raised by interested parties
- The court had previously authorized the EFCC to temporarily take custody of the assets and directed the commission to publish the order of interim forfeiture
A federal high court in Lagos has scheduled a ruling for November 1 regarding an application from the Economic and Financial Crimes Commission (EFCC) for the final forfeiture of funds and properties associated with Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
EFCC seeks final forfeiture
Source: Facebook
The EFCC's application seeks the forfeiture of $2.045 million, seven prime landed properties, and shares linked to Emefiele.
The court had previously authorized the EFCC to temporarily take custody of these assets, TheCable reported.
During the proceedings, the court directed the EFCC to publish the order of interim forfeiture, allowing any interested parties to show cause as to why the assets should not be permanently forfeited to the federal government.
At the hearing on Friday, October 11, Rotimi Oyedepo, the EFCC counsel, moved for the final forfeiture of the funds and share certificates, noting that no objections had been raised by the interested party, The Punch reported.
He adopted his written address dated August 29, 2024, urging the high court to grant the forfeiture in favor of the federal government.
In response, Olalekan Ojo, Emefiele’s attorney, requested that the court reject the EFCC's application, arguing against the forfeiture.
Court adjourns ruling on Emefiele's case
After considering the arguments presented by both counsels, Deinde Dipeolu, the presiding judge, adjourned the case to November 1 for a ruling on the matter.
The outcome will determine the fate of the contested funds and properties linked to Emefiele.
Court stops NEC, BoT from sacking Damagum as PDP Chairman
Earlier, Legit.ng reported that the Federal High Court in Abuja has made a significant ruling regarding the leadership of the People's Democratic Party (PDP).
Justice Peter Lifu has restrained the National Executive Committee (NEC) and Board of Trustees (BoT) from removing Umar Damagum as the Acting National Chairman until the party's national convention in December 2025.
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Source: Legit.ng
