Federal High Court Orders Final Forfeiture of $4.7M, N830 Million, Properties Linked to Emefiele
- High Court in Lagos has granted the final forfeiture of $4.7 million, N830 million, and multiple properties linked to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele
- In his ruling, Justice Yellim Bogoro held that the funds and properties were proceeds of unlawful activities and must be forfeited to the Nigerian government
- The Economic and Financial Crimes Commission (EFCC) secured the forfeiture after the respondents failed to prove the legitimacy of the assets
Legit.ng journalist Esther Odili has over two years of experience covering political parties and movements.
Lagos state - On Friday, February 21, a Federal High Court in Lagos state, ordered the final forfeiture of $4.7 million, N830million, and multiple properties linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).
Source: Facebook
Delivering judgement on Friday, Justice Yellim Bogoro, who had previously dismissed an application, granted the final forfeiture application of the Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Buhari-Bala.
As reported by Channels TV, the funds, now forfeited to the federal government, were held in First Bank, Titan Bank, and Zenith Bank accounts managed by individuals and entities including Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
Details of the properties Emefiele will forfeit to FG
Emefiele was also ordered to forfeit his properties which included mansions and estates linked to his name to the Nigerian government.
Source: UGC
Emefiele: Why court gave the order on Friday
Justice Bogoro held that all these properties and funds are proceeds of unlawful activities which are bound to be forfeited to the Federal Government of Nigeria.
The judge held:
“I find that the activities of the respondents here were unlawful. Why should they have a problem of dollars immediately Godwin Emefiele left CBN as a governor of the Bank and salary could not be paid?
“I hold that they are not legitimate business activities. I hold that Anita Omoile is a close crony of the former CBN governor Godwin Emefiele who has been given undue influence to unlawfully sway dollars from CBN.
“Consequently, I find that all the monies and properties in the schedule are finally forfeited to the Federal Government of Nigeria.”
Emefiele, who is facing multiple charges related to financial misconduct during his tenure at the helm of the CBN, has continued to deny all allegations against him. The trial is set to continue in the coming weeks.
Read more about EFCC, Emefiele here:
- N1.3 trillion probe: EFCC bans ex-governor Okowa from travelling abroad, seizes his passport
- Emefiele loses as court orders final forfeiture of $2.04m, properties linked to him
How Emefiele's PA received $400,000 on his behalf
Earlier, Legit.ng reported that in the ongoing trial of Godwin Emefiele, his former personal assistant, John Adetola, revealed that he collected $400,000 on behalf of the ex-governor.
Adetola explained that in 2018, he was instructed by Eric Odoh, the personal assistant to Emefiele in Abuja, to collect $400,000 from John Ayoh, the former director of the ICT department, and deliver it to Emefiele.
Adetola's revelation has led to a fresh twist to the legal battle between former CBN governor Godwin Emefiele, the federal government and the EFCC.
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Source: Legit.ng
