The Federal High Court in Lagos has ordered the permanent forfeiture of properties valued at ₦11.14 billion and ₦1.04 billion linked to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.
The properties, located in high-end areas of Abuja, were suspected to have been purchased by proxy using fraudulent proceeds.
Justice Chukwujekwu Aneke granted the Economic and Financial Crimes Commission’s (EFCC) motion for final forfeiture, following a meticulous investigation and a motion filed and argued by counsel Chineye Okezie.
The EFCC had earlier obtained an interim forfeiture order on June 5, 2024, which was uncontested by any party.
The properties listed in Schedules A and B include shops and apartments in Cadastral Zones of Maitama and Wuse (valued at ₦11.14 billion), and lands and apartments paid for on behalf of Oluwaseun (valued at ₦1.04 billion).
The EFCC alleged that two current CBN staff, Obayemi Oluwaseun Teben and Akomolafe Adebayo, and a former staff, Olubunmi Makinde, colluded to secure foreign exchange allocations in exchange for kickbacks. The commission stated that the trio used their positions to influence retail and special allocation of foreign exchange to different companies, receiving kickbacks in return.
Justice Aneke’s order emphasized that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities.
The court’s decision follows a 41-paragraph affidavit deposed by EFCC Investigating Officer Michael John Idoko, with 19 exhibits attached.
The final forfeiture order marks a significant milestone in the EFCC’s efforts to combat corruption and asset recovery. The properties will now be confiscated and forfeited to the Federal Government of Nigeria.
