The Federal High Court sitting in Lagos has ordered the permanent forfeiture of properties valued at N11.14 billion and N1.04 billion linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, to the Federal Government. Justice Chukwujekwu Aneke issued the final forfeiture order after reviewing a motion filed and argued by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie.
Previously, on June 5, 2024, Justice Aneke had granted an interim forfeiture of the properties following a motion by the EFCC’s counsel, Rotimi Oyedepo (SAN). The EFCC had argued that Emefiele acquired these properties through proxies using the proceeds of fraudulent activities.
During the proceedings, Oyedepo highlighted that Emefiele was suspected of purchasing these high-value properties with illicit funds, further asserting that two current and one former CBN staff were implicated as accomplices in the alleged fraud.
The court’s decision underscores ongoing efforts by the Nigerian government to address corruption and recover assets acquired through unlawful means. The forfeited properties represent a significant asset recovery milestone in the fight against financial crimes. The ruling also reflects the judiciary’s commitment to supporting anti-graft agencies in their mandate to curb corruption and uphold the integrity of public institutions.
