Justice Yellim Bogoro of the Federal High Court in Lagos has ruled for the permanent forfeiture of $4.7 million, N830 million, and multiple properties connected to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
The ruling came after the court dismissed an application by the respondents attempting to block the final forfeiture of the funds and properties, which had been seized by the Economic and Financial Crimes Commission (EFCC). Justice Bogoro ordered that the seized assets be handed over to the federal government.
The forfeited funds, which were stored in accounts at Titan Bank and Zenith Bank, were linked to various individuals and entities, including Omoile Anita Joy, Deep Blue Energy Service Limited, and several other companies. These funds were alleged to have been acquired through illegal means.
The properties under forfeiture included prime real estate in Lagos, such as a 94-unit 11-floor building in Ikoyi, a large office building in Lekki, and industrial properties in the Amuwo Odofin and Ibeju-Lekki areas. Additionally, properties in Texas and Lekki were also seized.
The EFCC, represented by Rotimi Oyedepo (SAN), argued that the funds and properties were proceeds from unlawful activities. In her judgment, Justice Bogoro agreed, stating that the assets were not linked to legitimate business dealings and that Emefiele’s associates had improperly accessed funds from the CBN.
With no valid proof of ownership from the respondents, the court made the forfeiture permanent, affirming that all the assets would now be transferred to the Federal Government of Nigeria.
