The Federal High Court in Lagos has issued a final order for the permanent forfeiture of properties valued at over N11.14 billion and N1.04 billion. These properties belong to Godwin Emefiele, the former Governor of the Central Bank of Nigeria, to the Federal Government.

Emefiele to permanently forfeit N12bn property

Justice Chukwujekwu Aneke made this decision after considering a motion filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie on Friday.

According to Justice Aneke, “After careful consideration of the application and submissions of counsel, it is hereby ordered that a final forfeiture order of this honorable court is made, forfeiting to the Federal Government of Nigeria the properties listed in Schedule A. These properties were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”

The forfeited properties include shops and apartments located in Cadastral Zone Maitama and Wuse.

Justice Aneke further stated, “A final forfeiture order of this Honourable Court is, hereby, made forfeiting to the Federal Government of Nigeria the properties listed in Schedule B, which were traced to have been acquired with proceeds of unlawful activities.” These properties consist of lands and apartments worth a total of N1.04 billion, which were purchased on behalf of Oluwaseun.

The court documents reveal that Obayemi Oluwaseun Teben and Akomolafe Adebayo, along with Olubunmi Makinde, utilized their positions at the CBN to secure foreign exchange allocations for various companies in exchange for kickbacks.

According to the affidavit, “OLUBUNMI MAKINDE acted as the intermediary between OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO and the companies seeking foreign exchange approval.”

“OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO, as CBN staff, had access to the bidding processes and data of companies applying for Form Ms approval through their commercial banks.”

Earlier, on June 5, 2024, Justice Aneke had granted an interim forfeiture based on a motion by EFCC counsel Rotimi Oyedepo, alleging that Emefiele acquired these properties through fraudulent means.

Oyedepo also implicated two current and one former CBN staff as accomplices in the alleged fraud involving Emefiele.

The properties in question are situated in upscale areas of Abuja, the Federal Capital Territory.

Justice Aneke directed the EFCC to publish the forfeiture order in a national newspaper to notify any interested parties to present reasons why the final forfeiture order should not be granted.

Subsequently, a hearing for the final forfeiture motion was scheduled. On June 21, no party appeared in court to contest the interim order. Consequently, Chineye Okezie proceeded with her motion for permanent forfeiture.

After reviewing an affidavit by EFCC Investigating Officer Michael John Idoko, along with 19 exhibits and a written address by Okezie, Justice Aneke granted the application for permanent forfeiture.

The properties were listed in two schedules, A and B, detailing their locations and values.

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