Again, Emefiele Loses Land, Warehouse With 54 Loaded Containers To Federal Gov’t

The Economic and Financial Crimes Commission (EFCC) has, once again, secured the final forfeiture of a land and a warehouse with 54 loaded general-purpose steel containers.

The development came after Justice Deinde Dipeolu of the Federal High Court sitting in Lagos gave the final forfeiture order on the warehouse traced to the immediate-past governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

An insider source privy to the matter told LEADERSHIP that, “The order was given on Thursday, December 19, 2024 with the property forfeited to the Federal Government of Nigeria. The property, a warehouse built on a landed property measuring 1.925 hectares, lying, being and situated at Km 8, along Lagos-Ibadan Expressway, Magboro, contained 54 General purpose steel containers. The containers were filled with sewing machines of various shapes.”

Recall that earlier on November 28, the Judge ordered the interim forfeiture of the assets after the Commission had moved an application for their forfeiture.

Following directive of the court to the EFCC to publish the order in two national newspapers for any interested person to show cause why the properties should not be finally forfeited, the Commission later approached the court for the final forfeiture of the assets.

Additionally, the court ordered the forfeiture of the land holding the warehouse to the federal government.

At the resumed hearing of the matter on Thursday, EFCC Counsel, Rotimi Oyedepo, SAN, told the court that the EFCC had complied with the court’s directives to publish the assets in two national newspapers. Citing Section 44(2) (B) of the constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, he prayed the court to grant the final forfeiture of the assets.

Justice Dipeolu consequently granted the order of final forfeiture, making the forfeiture another milestone in the asset recovery drive of the EFCC.