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Court Orders Forfeiture of $2.4M and Seven Properties Linked To Emefiele
EFCC’s investigation revealed that Emefiele allegedly negotiated kickbacks for foreign exchange allocations
Ikeja Lagos State– The Federal High Court in Lagos has directed the interim forfeiture of $2.04 million and seven properties associated with Mr Godwin Emefiele, former Governor of the Central Bank of Nigeria.
The order, issued by Justice Akintayo Aluko, follows an application by the Economic and Financial Crimes Commission (EFCC) investigating alleged fraudulent activities linked to Emefiele.
The forfeited assets include properties in Lekki and Ikoyi, Lagos, and a large industrial complex in Agbor, Delta State. Specifically, the properties are two detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1; a 1,919.592 sqm undeveloped land and a bungalow on Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex spanning 22 plots in Agbor; eight apartments on Adekunle Lawal Road, Ikoyi; and a full duplex at 2a Bank Road, Ikoyi.
Meanwhile, the court has ordered the interim forfeiture of two share certificates from Queensdorf Global Fund Limited Trust, a company allegedly linked to Emefiele.
EFCC counsel Rotimi Oyedepo (SAN) argued that the assets were obtained through fraudulent means.
He cited the need to prevent further dissipation of the assets and referenced the legal grounds for the interim forfeiture under the Advance Fee Fraud and Other Fraud Related Offences Act and the 1999 Constitution.
EFCC’s investigation revealed that Emefiele allegedly negotiated kickbacks for foreign exchange allocations.
However, EFCC investigator Idi Musa testified that the properties were acquired through shell companies linked to Emefiele for money laundering.
Following the order, Justice Aluko instructed the EFCC to publish the forfeiture in a national newspaper and allowed 14 days for any interested parties to contest the forfeiture.
The case is adjourned to September 5, 2024, for further proceedings. This order adds to previous forfeiture actions against Emefiele, including $1.4 million in May and other assets totaling $4.7 million and N830 million.