The Federal High Court in Lagos has ordered the final forfeiture of $2.045 million and eight prime properties belonging to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, to the Federal Government, concluding months of legal proceedings.
The properties, located in Lagos and Delta, along with two share certificates of a company, were allegedly acquired using proceeds from unlawful activities.
In a ruling issued Friday, Justice Deinde Dipeolu decreed the permanent forfeiture after noting that neither Emefiele nor any other party contested the initial interim forfeiture.
The judge ruled that Emefiele failed to provide evidence linking his lawful earnings from Zenith Bank and the CBN to the acquisition of the assets.
Among the forfeited properties are two duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, an undeveloped land parcel at Oyinkan Abayomi Drive in Ikoyi, a bungalow on the same street, a four-bedroom duplex at Probyn Road in Ikoyi, an industrial complex on 22 plots of land in Agbor, Delta State, an apartment complex on Adekunle Lawal Road, Ikoyi, and a full duplex on Bank Road, Ikoyi.
The EFCC listed several companies, including Amrash Ventures Limited, Modern Hotels Limited, and Fidelity Express Services Limited, as being associated with the questionable acquisitions.
Justice Dipeolu highlighted the absence of any claim by these companies and remarked that their lack of engagement “suggests there may be something concealed about the acquisition.”
Despite opposition from Emefiele’s counsel, Olalekan Ojo (SAN), who requested the court to halt proceedings, the ruling proceeded.
Justice Dipeolu confirmed the assets as “reasonably suspected” to be acquired through unlawful means, upholding the EFCC’s claims for the government to permanently assume custody of the funds, properties, and shares.
