A Federal High Court in Lagos has ordered the permanent forfeiture of $4.7 million, N830 million, and several properties associated with Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), to the Federal Government.
Justice Yellim Bogoro, who presided over the case, granted the final forfeiture following an application by the Economic and Financial Crimes Commission (EFCC). The judgment, delivered on Friday February 21, 2024, declared that the funds and assets were proceeds of unlawful activities.
The forfeited funds were traced to accounts in First Bank, Titan Bank, and Zenith Bank, held by individuals and companies such as Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
94 units in an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos.
AM Plaza, an 11-floor office complex on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.
Imore Industrial Park 1 on Esa Street, Imoore Land, Amuwo Odofin LGA, Lagos.
Mitrewood and Tatler Warehouse (a furniture plant) located at Bogije, near Elemoro, Owolomi Village, Ibeju-Lekki LGA, Lagos.
Two properties acquired from Chevron Nigeria in Lakes Estate, Lekki, Lagos.
A plot of land at Lekki Foreshore Estate Scheme, Eti-Osa LGA, Lagos. Aproperty located at 8 Bayo Kuku Road, Ikoyi, Lagos. Land at 1 Bunmi Owulude Street, Lekki Phase 1, Lagos. An estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services.
Justice Bogoro ruled that the respondent’s activities were unlawful, stating:
“I find that the activities of the respondents were illegal. How could there be an issue with dollar availability immediately after Godwin Emefiele left the CBN, to the extent that salaries could not be paid? I am convinced that these are not legitimate business dealings. It is clear that Anita Omoile, a close associate of the former CBN governor, was given undue influence to divert dollars unlawfully from the CBN.”
The judge concluded that all the listed funds and properties must be forfeited to the Federal Government.
The EFCC, represented by Senior Advocate of Nigeria (SAN) Rotimi Oyedepo, had sought the forfeiture under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution.
After granting an interim forfeiture order and directing that the notice be published in a national newspaper, the court made the order permanent when no party could provide evidence of legitimate ownership of the assets.
