The Federal High Court in Lagos ordered the permanent forfeiture of $2.045 million, seven high-value properties, and share certificates linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Justice Deinde Dipeolu approved the final forfeiture on Friday, after ruling that neither Emefiele nor any interested parties contested the initial interim forfeiture.
The judge found that Emefiele could not provide documentation linking his lawful income from Zenith Bank or the CBN to these assets, failing to substantiate ownership.
The properties in question, registered under companies such as Amrash Ventures Limited, Modern Hotels Limited, and Finebury Properties Limited, were alleged by Emefiele to have no connection to him.
However, the companies did not present any evidence in court to claim ownership.
The judge stated that the circumstances suggested “something dark” about the acquisition, noting that Emefiele had not demonstrated any legitimate claim to the assets, leading to the final forfeiture order.
The assets include two duplexes on Hakeem Odumosu Street, Lekki Phase 1; a large undeveloped plot on Oyinkan Abayomi Drive, Ikoyi; a bungalow on the same street; a four-bedroom duplex on Probyn Road, Ikoyi; an industrial complex under construction in Agbor, Delta State; and an apartment complex and duplex on Adekunle Lawal Road and Bank Road, Ikoyi.
This ruling follows the court’s initial decision on August 15, 2024, granting the Economic and Financial Crimes Commission (EFCC) interim control of the assets.
The EFCC argued that the funds and properties were suspected proceeds of unlawful activities.
Despite efforts by Emefiele’s counsel, Olalekan Ojo (SAN), to halt the forfeiture process, the court proceeded with the final order.
