The Federal High Court in Lagos has scheduled November 1, 2024, to rule on the Economic and Financial Crimes Commission’s (EFCC) application for the final forfeiture of $2.045 million, seven choice properties, and shares associated with former Central Bank of Nigeria Governor, Godwin Emefiele.
At the same hearing, the court will also decide on Emefiele’s request for a stay of proceedings.
Restrospectively, the court had authorised the EFCC to temporarily take custody of the assets and directed the publication of the interim forfeiture order in August, 2024, allowing any interested party to contest the final forfeiture.
On Friday, EFCC’s counsel, Rotimi Oyedepo (SAN), moved for the final forfeiture, noting that the interested party had not contested the funds and shares.
However, Emefiele’s lawyer, Olalekan Ojo, opposed the move, arguing that the court should reject the final forfeiture as Emefiele had shown sufficient cause on a balance of probability.
The court also denied a request from Emefiele’s counsel to stay proceedings pending the outcome of his appeal seeking to nullify the interim forfeiture order.
Justice Deinde Dipeolu ruled that an appeal could only proceed following the court’s decision on the case, dismissing the oral application for a stay.
Emefiele’s appeal at the Court of Appeal will not halt the current proceedings, as Oyedepo argued that no formal ruling had been issued by the Federal High Court that would justify an appeal.
The court will now proceed with its ruling on November 1.
