By Ifeoluwa Odunayo
The Central Bank of Nigeria (CBN), has asked the Federal High Court in Abuja to dismiss an Economic and Financial Crimes Commission (EFCC), forfeiture case over a N2.7 billion property in Karmo District, Abuja.
At a hearing on Thursday, CBN’s lawyer, Joseph Abah, informed Justice Emeka Nwite that the bank had filed legal documents to challenge EFCC’s claim and join the case.
The contested property, Plot 781, Cadastral Zone 001, was used as collateral for a loan obtained through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).
The legal battle began after the EFCC, on August 8, 2024, filed a motion seeking interim forfeiture of the asset, citing alleged financial irregularities involving Toks Properties Limited.
On September 3, 2024, Justice Nwite approved the EFCC’s request, placing restrictions on the sale, lease, or disposal of the property.
However, the CBN is now pushing back, insisting that the forfeiture order be overturned, setting the stage for a high-stakes legal showdown.
