COURT ORDERS FORFEITURE OF $2.045M, PROPERTIES, SHARES LINKED TO EMEFIELE
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A Federal High Court in Lagos has ordered the temporary forfeiture of $2.045 million, seven landed properties, and shares belonging to Godwin Emefiele, the former Governor of the Central Bank of Nigeria.
Justice Akintayo Aluko issued the decision on Thursday in response to an application by the Economic and Financial Crimes Commission (EFCC), which claimed that the confiscated items were reasonably suspected to represent the proceeds of illicit activity.
According to Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN) who represents the EFCC, Emefiele negotiated payments in exchange for allocating foreign money to companies who needed it for legitimate business purposes.
“In the course of this investigation, it was revealed that the erstwhile CBN governor negotiated kickbacks in return for allocation of foreign exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses,” Oyedepo told the court.
The investigation discovered that Ifeanyi Omeke, a deputy general manager at Zenith Bank Plc, worked closely with Emefiele and did errands for him, such as obtaining and finalising title documents for many houses in Lagos’ affluent neighbourhoods.
The properties listed for forfeiture include two fully detached duplexes in Lekki Phase 1, an undeveloped plot of land in Ikoyi, a cottage in Ikoyi, a four-bedroom duplex in Ikoyi, an industrial complex under development in Agbor, eight units of detached flats in Ikoyi, and a full duplex in Ikoyi.
The EFCC lawyer requested forfeiture of the investments to the federal government, which was approved by the judge. The court ordered the EFCC to publish the interim forfeiture order in a national publication so that anyone interested in the properties might appear before the court within 14 days and show cause why it should not be issued in favour of the government.
Further hearing of the matter has been adjourned to September 5. The EFCC’s application for forfeiture is part of its ongoing investigation into allegations of corruption and abuse of office against Emefiele during his tenure as CBN governor.
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