Court Orders Temporary Forfeiture of $2.04 Million, Lands, and Shares Linked to Former CBN Governor Emefiele
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In a significant development, Justice Akintayo Aluko of the Federal High Court in Lagos has ordered the temporary forfeiture of $2.04 million, seven choice landed properties in Ikoyi, and two share certificates of Queensdorf Global Fund Limited trust, all allegedly linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
The order was made on Wednesday, following an application by the Economic and Financial Crimes Commission (EFCC) through its lawyer, Rotimi Oyedepo (SAN).
The EFCC had filed an application marked FHC/L/MISC/500/24, seeking the temporary forfeiture of the properties and funds, which are reasonably suspected to be proceeds of unlawful activities. Oyedepo told the court that the money and properties were acquired through fraudulent means, including kickbacks from foreign exchange allocations.
The affidavit deposed to by EFCC investigator, Idi Musa, revealed that the commission received intelligence reports of monumental fraudulent activities perpetrated by senior CBN officers, including Emefiele, and traced several properties suspected to have been acquired with proceeds of unlawful activities.
The properties listed for forfeiture include two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped land at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65a Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex under construction on a 22-plot of land in Agbor, Delta State; eight units of undetached apartments at No. 8a Adekunle Lawal Road, Ikoyi; and a full duplex at 2a Bank Road, Ikoyi, Lagos.
Justice Aluko granted the interim forfeiture order and directed the EFCC to publish the order in a national newspaper, allowing anyone interested in the properties to appear before the court and show cause within 14 days why the final order of forfeiture should not be made in favor of the Federal Government of Nigeria. The matter was adjourned to September 5 for further hearing.
This development is a significant step in the fight against corruption and money laundering in Nigeria, and it remains to be seen how the case will unfold in the coming weeks.
