Court Orders Final Forfeiture Of N12.18bn Properties Linked To Emefiele

Justice Chukwujekwu Aneke of the Federal High Court in Lagos has ordered the final forfeiture of properties valued at N11,140,000,000 and N1.04 billion linked to a former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the federal government.

Justice Aneke gave the order after listening to an application filed by the Economic and Financial Crimes Commission (EFCC) and argued through one of its lawyers, Chineye Okezie.
The judge had on June 5, 2024 temporarily seized the properties after entertaining an ex-parte application moved by the EFCC counsel, Rotimi Oyedepo (SAN).

The court, however, directed the anti-graft agency to publish the order in the newspapers to enable any interested party to come to show cause why the final order of forfeiture should not be made.
Oyedepo had informed the court that Emefiele was suspected of having bought the choice properties by proxy with the proceeds of fraud.

The commission appropriately named two current and one former CBN staff member as Emefiele’s accomplices in the alleged fraud.

The trio, according to the affidavit filed in support of the application, are Obayemi Oluwaseun Teben and Akomolafe Adebayo, working with Olubunmi Makinde, a former CBN staff member and others.
The properties are primarily located in highbrow parts of the Federal Capital Territory (FCT), Abuja.

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At the resumed hearing of the matter on Friday, no interested party showed up to contest the judge’s interim order, so Okezie moved her motion for permanent forfeiture.

After reading a 41-paragraph affidavit deposed to by an EFCC investigating officer, Michael John Idoko, the 19 exhibits attached, a written address signed by Okezie and hearing Okezie’s motion, Justice Aneke granted the application.

The EFCC listed the properties in two schedules, A and B.

They include shops and apartments at Cadastral Zone Maitama and Wuse.

The properties also include lands and a half on behalf of Oluwaseun at a total value of N1.04 billion.
The EFCC had claimed in the affidavit that Obayemi Oluwaseun Teben and Akomolafe Adebayo, working with Olubunmi Makinde, used their positions and influence as CBN staff to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.