Court orders forfeiture of $2m, 8 properties linked to Emefiele

A Federal High Court sitting in Lagos has ordered the final forfeiture to the federal government, a cash sum of $2.045 million and eight choice properties in Lagos and Delta States linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

The court also ordered the final forfeiture of share certificates of Queensdorf Global Fund Limited Trust linked to Emefiele.

The presiding judge, Justice Deinde Dipeolu, made the declaration on Friday, November 1, 2024.

Justice Dipeolu held that Emefiele was not able to connect his lawful earnings from Zenith Bank and the CBN to the acquisition of the properties.

The Economic and Financial Crimes Commission (EFCC) counsel, Rotimi Oyedepo (SAN), had in a motion on August 15 sought an order to forfeit the properties on grounds that they were reasonably suspected to be proceeds of crime.

Oyedepo added that the orders sought were pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, Section 44 (2)(b) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.

The court had granted the interim order of forfeiture on the properties and adjourned for any interested party to appear in court and show cause.

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In its ruling on Friday, the judge held that Emefiele failed to provide documents or links to show that he owned the properties.

He declared that the conclusion that can be deduced is that there must be something dark about the acquisition of the properties, which the former CBN Governor and the companies did not want to come to light.

Justice Dipeolu said: “The interested party has failed to demonstrate any lawful interest in the properties and that they were acquired from his legitimate earnings.

“I, therefore, order the final forfeiture to the Federal Government of Nigeria, of all those properties, which are reasonably suspected to have been acquired with proceeds of unlawful activities.”

The properties are two fully detached duplexes of identical structures situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos State.

An undeveloped land measuring 1919.592sqm at Oyinkan Abayomi Drive Ikoyi, Lagos State; a bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi, Lagos State; and a four-bedroom duplex at 12a Probyn Road, Ikoyi, Lagos State.

Others include an industrial complex under construction; 22 plots of land in Agbor, Delta State; eight units of an undetached apartment at No. 8a Adekunle Lawal Road, Ikoyi, Lagos State; and a full duplex together with all its appurtenances on a plot of land at 2a Bank Road, Ikoyi, Lagos State.

The Star