Court Orders Forfeiture Of ₦11.1 Billion Properties Linked To Emefiele

A Federal High Court in Lagos has granted an interim order for the forfeiture of properties worth ₦11.14 billion linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The ruling was delivered by Justice Chukwujekwu Aneke on Wednesday, following a compelling motion by the Economic and Financial Crimes Commission (EFCC), represented by counsel Rotimi Oyedepo (SAN), along with Bilkisu Buhari-Bala and Chineye Okezie.

Oyedepo informed the court that Emefiele was suspected of buying the choice properties by proxy with the proceeds of fraud.

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The EFCC named two current and one former CBN staff as Emefiele’s accomplices in the alleged fraud. The properties are mostly located in highbrow parts of the Federal Capital Territory, Abuja.

Justice Aneke also ordered the EFCC to publish the order in the ThisDay newspaper to allow any interested party to show cause why the final order of forfeiture should not be made.

The judge adjourned the hearing of the motion for final forfeiture to the 21st of June.