A Federal High Court in Lagos has ruled that millions of dollars and multiple properties linked to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, must be permanently forfeited to the government.
On Friday, February 21, Justice Yellim Bogoro approved the final forfeiture request made by the Economic and Financial Crimes Commission (EFCC).
The court had earlier rejected a request for Emefiele’s arrest but has now ruled that the assets were acquired through unlawful means.
The forfeited funds, totaling $4.7 million and N830 million, were held in accounts belonging to individuals and businesses, including Omoile Anita Joy, Deep Blue Energy Service Ltd, Exactquote Bureau De Change Ltd, Lipam Investment Services Ltd, and others.
The court also ordered the seizure of multiple properties, such as:
- A nearly completed 11-floor building at Otunba Elegushi 2nd Avenue, Ikoyi, Lagos
- AM Plaza, an 11-floor office complex in Lekki, Lagos
- Imore Industrial Park 1, Amuwo Odofin, Lagos
- Mitrewood and Tatler Warehouse in Ibeju-Lekki, Lagos
- Two Chevron-purchased properties in Lekki, Lagos
- A property in Texas, USA, owned by Lipam Investment Services
- Land and properties in various parts of Lagos, including Lekki and Ikoyi
Justice Bogoro declared that the assets were obtained through illegal activities, pointing out suspicious financial transactions connected to Emefiele.
The judge stated that these funds and properties were not linked to legitimate business activities and must be forfeited to the federal government.
The EFCC, represented by lawyer Rotimi Oyedepo SAN, cited Nigeria’s anti-fraud laws, including the Advance Fee Fraud Act of 2006 and the Nigerian Constitution.
Since no one could prove legal ownership of the assets, the court made the forfeiture order permanent.
This ruling marks a major step in Nigeria’s fight against corruption, as authorities continue to investigate financial misconduct by public officials.
