Saturday, February 22, 2025 - A Federal High Court in Lagos has ordered the final forfeiture of $4.7 million, N830 million, and multiple properties linked to former Central Bank of Nigeria (CBN) governor Godwin Emefiele.
Delivering judgment on Friday, February 21, Justice Yellim Bogoro
granted the final forfeiture application filed by the Economic and Financial
Crimes Commission (EFCC), represented by counsel Bilkisu Buhari-Bala. This
decision comes after the court had earlier dismissed an application seeking to
arrest Emefiele.
The forfeited funds were held in accounts at First Bank, Titan Bank, and
Zenith Bank, 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.
The affected properties include 94 units of an 11-floor building under
construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos; AM Plaza, an
11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1,
Lagos; Imore Industrial Park 1 on Esa Street, Imoore Land, Amuwo Odofin LGA,
Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro,
Owolomi Village, Ibeju-Lekki LGA, Lagos; and two properties purchased from
Chevron Nigeria, located in Lakes Estate, Lekki, Lagos.
Additional properties include a plot at Lekki Foreshore Estate Scheme,
Foreshore Estate, Eti-Osa LGA; an estate at 100 Cottonwood Coppel Texas Drive,
Coppel, Texas, owned by Lipam Investment Services; land at 1 Bunmi Owulude
Street, Lekki Phase 1, Lagos; and a property at 8 Bayo Kuku Road, Ikoyi, Lagos.
Justice Bogoro ruled that all these properties and funds were proceeds
of unlawful activities and must be forfeited to the federal government.
“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,” the judge declared.
The EFCC, through its counsel Rotimi Oyedepo SAN, had cited Section 17
of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and
Section 44(2)(b) of the Nigerian Constitution in its application, arguing that
the funds and properties were suspected proceeds of unlawful activities.
Justice Bogoro had previously granted an interim forfeiture order and
directed its publication in a national newspaper. As no defendants or claimants
were able to establish legitimate ownership of the assets, the court has now
made the forfeiture permanent.
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