Breaking News: Emefiele’s N12 Billion Properties Permanently Forfeited

 

The Federal High Court in Lagos has mandated the permanent forfeiture of properties valued at over N12 billion belonging to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.

Justice Chukwujekwu Aneke issued the ruling after considering a motion by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie. The properties, suspected to have been acquired through illicit activities, include shops and apartments in Maitama and Wuse, as well as lands and apartments in the Federal Capital Territory, Abuja.

The EFCC’s investigation linked the properties to fraudulent activities involving current and former CBN staff, including Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde, who allegedly facilitated foreign exchange allocations in exchange for kickbacks. The properties were purchased by proxies, according to the affidavit submitted by EFCC Investigating Officer Michael John Idoko.

Following an interim forfeiture order on June 5, 2024, the court had invited interested parties to contest the decision, but none appeared. Consequently, Justice Aneke reviewed the 41-paragraph affidavit and 19 exhibits submitted by the EFCC, granting the motion for permanent forfeiture.

The ruling directs the EFCC to publish the order in a national newspaper, further solidifying the government’s stance against corruption and fraud.