Court orders forfeiture of Properties worth N11.14 Billion linked to Emefiele


A Federal High Court in Lagos, on Wednesday, granted an order for the interim forfeiture of properties valued at N11.14 billion linked to a former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

Akelicious gathered that Justice Chukwujekwu Aneke issued the order following a motion ex parte filed and argued by a Senior Advocate of Nigeria and counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo.

The court’s order mandates the interim forfeiture of these properties to the Federal Government.

Oyedepo informed the court that Emefiele is suspected of purchasing these high-value properties, primarily located in upscale areas of the Federal Capital Territory, Abuja, by proxy, using proceeds from fraud.

The EFCC also implicated three CBN staff members as Emefiele’s accomplices. Makinde Olubunmi, Obayemi Teben and Adebayo Akomolafe allegedly used their positions to secure retail and special allocations of foreign exchange for various companies in exchange for kickbacks.

Justice Aneke has ordered the EFCC to publish the forfeiture order in a newspaper to allow any interested parties to present reasons why a final forfeiture order should not be issued.

The case was adjourned to June 21 for the hearing of the motion for final forfeiture.

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