The Federal High Court in Lagos has ordered the final forfeiture of $2.045 million, seven prime properties, and share certificates associated with former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Justice Deinde Dipeolu issued the ruling on Friday, affirming that neither Emefiele nor any other interested parties contested the assets following an interim forfeiture order.
The court declared that Emefiele failed to establish any legal income source linked to the acquisition of these properties from his tenure at Zenith Bank or the CBN. Additionally, he did not provide documentation proving ownership of the properties, which were held under various companies, including Amrash Ventures Limited, Modern Hotels Limited, and Finebury Properties Limited.
Justice Dipeolu stated, “There must be something obscured about the acquisition of these properties that Emefiele and the companies involved do not wish to bring to light.” Concluding that there was no lawful claim to the assets, the court ordered the final forfeiture to the Federal Government of Nigeria, deeming the properties likely acquired with unlawful funds.
The assets include:
- Two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos
- An undeveloped plot measuring 1919.592sqm on Oyinkan Abayomi Drive, Ikoyi, Lagos
- A bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi, Lagos
- A four-bedroom duplex at 12a Probyn Road, Ikoyi
- An industrial complex under construction on 22 plots in Agbor, Delta State
- Eight apartment units at No. 8a Adekunle Lawal Road, Ikoyi
- A duplex with apartments on a 2217.87 sq m plot at 2a Bank Road, Ikoyi
Previously, on August 15, the court granted the Economic and Financial Crimes Commission (EFCC) temporary custody of the assets based on its claims that the funds and properties were suspected to be from unlawful activities. Despite efforts from Emefiele’s counsel, Olalekan Ojo (SAN), to delay the final forfeiture, the court proceeded with the ruling, citing insufficient evidence of legitimate ownership.
