Friday, March 7, 2025 - A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Justice Olayinka Faji ruled on Thursday, March 6, that the sum was the
proceeds of unlawful activities and must be forfeited to the Federal
Government. The Economic and Financial Crimes Commission (EFCC), represented by
counsel Bilkisu Bahari-Bala, told the court that $1,426,175.14 was found in the
account of Donatone Limited at Titan Trust Bank (Account No. 2000000500) and that investigations confirmed the money was linked to fraudulent
activities.
An affidavit deposed by EFCC investigator David Jayeoba stated that
intelligence reports led to the discovery of the concealed funds.
“Investigation revealed that Uzeobo Anthony and Adebanjo Olurotimi are some of
the brains behind the fraudulent concealment of funds reasonably suspected to
have been proceeds of unlawful activities of the erstwhile Central Bank of
Nigeria’s Governor, Godwin Emefiele,” Jayeoba disclosed.
The EFCC alleged that both men were recruited by Emefiele to help hide
and disguise the funds. “Both men used Donatone Ltd to collect bribes and
gratification on behalf of Emefiele to get approval for accessing Forex,” the
investigator added.
Justice Faji had previously issued an interim forfeiture order on May
30, 2024, before granting the final forfeiture of the funds on Thursday.
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