Court orders permanent forfeiture of Emefiele’s $4.7m, N830m, properties

A Federal High Court in Lagos, Nigeria, presided over by Justice Yellim Bogoro, has ordered the final forfeiture of $4.7 million, N830 million, and multiple properties linked to former Central Bank of Nigeria’s Governor Godwin Emefiele to the Federal Government of Nigeria.

Diaspora Digital Media gathered that The judge dismissed an objection from an interested party before granting the Economic and Financial Crimes Commission (EFCC)’s application.

The EFCC application was filed by counsel Bilkisu Buhari-Bala, for the forfeiture of the funds held in First Bank, Titan Bank, and Zenith Bank accounts operated by individuals and entities including Omoile Anita Joy, Deep Blue Energy Service Limited, and Exactquote Bureau De Change Ltd.

The seized properties include:
94-unit, 11-floor building under construction at Ikoyi, Lagos
AM Plaza, an 11-floor office space in Lekki, Lagos
Imore Industrial Park 1 in Amuwo Odofin, Lagos
Mitrewood and Tatler Warehouse in Ibeju-Lekki, Lagos
Two Chevron Nigeria properties in Lakes Estate, Lekki
Land and properties in Lekki, Eti-Osa, and Texas, USA.

Justice Bogoro ruled that these assets were proceeds of unlawful activities, emphasizing that large amounts of foreign currency surfaced after Emefiele’s exit from the CBN, raising concerns about illicit financial dealings.

The judge also identified Anita Omoile as a close associate of Emefiele, benefiting from undue influence to access CBN funds unlawfully.

The EFCC, represented by Rotimi Oyedepo (SAN), cited relevant laws in its application, leading to the initial forfeiture order, which was later made permanent after no legitimate ownership claims were proven.

Timeline of the Emefiele case:

– April 2022: Godwin Emefiele’s presidential campaign posters appeared in Abuja, sparking rumors of his interest in running for president.

– May 2022: A group of rice farmers purchased the presidential form of the All Progressive Congress for Emefiele, further fueling speculation about his presidential ambitions.

– May 2022: Emefiele filed a lawsuit seeking to run for president without resigning as CBN governor, but the court declined his request.

– June 9, 2023: President Bola Tinubu suspended Emefiele as the Central Bank Governor, citing an investigation into his office and planned reforms in the financial sector.

– June 10, 2023: Emefiele was arrested by the Department of State Services (DSS) for questioning regarding the investigation into his office.

– July 2023: Emefiele was charged in court.

– July 25, 2023: Emefiele was re-arrested by the DSS after being arraigned in court and granted bail.

– April 5, 2024: The Economic and Financial Crimes Commission (EFCC) filed new charges against Emefiele, accusing him of fraudulently allocating $2 billion in foreign exchange.

– May 24, 2024: A Federal High Court ordered the interim forfeiture of $4.7 million, N830 million, and several properties linked to Emefiele.

– June 22, 2024: A Federal High Court granted the final forfeiture of properties worth over N12 billion linked to Emefiele.

– February 21, 2025: Emefiele appeared before a Federal High Court in Lagos and entered a plea of not guilty to the charges of illegal possession of firearms filed against him by the Ministry of Justice.

– February 21, 2025: A Federal High Court in Lagos, Nigeria, presided over by Justice Yellim Bogoro, has ordered the final forfeiture of $4.7 million, N830 million, and multiple properties linked to former Central Bank of Nigeria’s Governor Godwin Emefiele to the Federal Government of Nigeria.

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