Federal High Court Orders Permanent Forfeiture of N12 Billion in Properties Tied to Ex-CBN Governor Godwin Emefiele | #NwokeukwuMascot

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Court Orders Final Forfeiture of N12 Billion Properties Linked to Former CBN Governor Godwin Emefiele | #NwokeukwuMascot

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The Federal High Court in Lagos State has issued a permanent forfeiture order on properties valued at over N12 billion, linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. The order was made by Justice Chukwujekwu Aneke following a motion filed by the Economic and Financial Crimes Commission (EFCC).



On June 5, 2024, Justice Aneke had previously upheld an interim forfeiture motion filed by EFCC's counsel, Mr. Rotimi Oyedepo (SAN). The EFCC argued that the properties were purchased by Emefiele through proxies using proceeds from fraudulent activities.



The EFCC named current CBN staff members Obayemi Oluwaseun Teben and Akomolafe Adebayo, as well as former CBN staff member Olubunmi Makinde, as Emefiele’s accomplices in the alleged fraud. According to the affidavit filed by the EFCC, these individuals used their positions to secure foreign exchange allocations for various companies in exchange for kickbacks.



The properties, located in high-end areas of the Federal Capital Territory (FCT), Abuja, were listed in two schedules, A and B. Schedule A includes shops and apartments in Cadastral Zone, Maitama, and Wuse, while Schedule B includes lands and apartments valued at N1.04 billion, paid for on behalf of Oluwaseun.



The EFCC had previously published the interim order in a national newspaper, inviting any interested parties to contest the final forfeiture. However, no objections were raised by the adjourned date of June 21, 2024. Consequently, EFCC's counsel, Chineye Okezie, moved for a permanent forfeiture.




After reviewing the 41-paragraph affidavit deposed by EFCC Investigating Officer Michael John Idoko, the attached 19 exhibits, and the written address by Okezie, Justice Aneke granted the final forfeiture order.




Justice Aneke stated: “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: - that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”




The judge also granted the final forfeiture of properties listed in Schedule B, which were similarly linked to proceeds of unlawful activities.




This decision marks a significant step in the EFCC’s ongoing efforts to combat corruption and recover assets obtained through fraudulent means.



#Emefiele #FG #CBN #EFCC

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