The Federal High Court in Lagos has ordered the interim forfeiture of $2.045 million and seven properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The properties include luxury duplexes, undeveloped land, and an industrial complex, all situated in prime locations across Lagos and Delta State.
Justice Akintayo Aluko issued the interim forfeiture order following an application by the Economic and Financial Crimes Commission (EFCC). The EFCC argued that the funds and assets were acquired through unlawful activities, including alleged kickbacks from foreign exchange allocations during Emefiele’s tenure as CBN Governor.
The EFCC’s investigation revealed that these assets were purchased through shell companies and intermediaries, with the funds traced back to illegal activities. The properties sought for forfeiture include high-end residences in Lekki Phase 1, Ikoyi, and an industrial complex in Agbor, Delta State.
Additionally, the court ordered the forfeiture of share certificates belonging to Queensdorf Global Fund Limited Trust, believed to be part of the assets acquired through illicit means.
Justice Aluko granted the interim forfeiture after reviewing the evidence and legal arguments presented by the EFCC, which cited various provisions of the law, including the Advance Fee Fraud and Other Fraud Related Offences Act, the Nigerian Constitution, and the court’s inherent jurisdiction.
The court’s decision is part of an ongoing investigation into what the EFCC describes as monumental fraud involving senior officials of the Central Bank under Emefiele’s leadership. The forfeiture aims to prevent the dissipation of assets suspected to have been acquired through fraudulent activities, pending further investigations and legal proceedings.
