Court Ruling on Forfeiture
Federal High Court Lagos in Lagos has ordered the final forfeiture of $2.045 million, along with seven choice landed properties and share certificates associated with Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN)
No Contest from Emefiele
Justice Deinde Dipeolu determined that Emefiele or any other interested party failed to contest the initial interim forfeiture. As a result, the court granted a permanent forfeiture of the funds and two share certificates belonging to Queensdorf Global Fund Limited Trust.
Properties Lacking Legal Connection
The court also ordered the forfeiture of the seven properties, citing Emefiele’s inability to link them to lawful earnings from his tenure at Zenith Bank and the CBN. The judge noted that Emefiele failed to provide documentation proving ownership of the properties.
Companies Linked to Properties Absent
Emefiele denied any connections to the companies under whose names the properties were purchased. These companies Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited—did not appear in court to claim the properties.
Judge’s Observations
Justice Dipeolu remarked, the conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies do not want to come to light. He emphasized that no lawful interest in the properties was demonstrated, leading to the forfeiture order.
Read also:
- Emefiele Corrupt Case: Court Orders Forfeiture Of $2.04m, Properties, Shares Linked To Ex-CBN Governor
- N11B worth of Properties: Court orders final confiscation of properties connected to Emefiele
Details of Forfeited Properties
The forfeited properties include:
- Two fully detached duplexes on Hakeem Odumosu Street, Lekki Phase 1, Lagos
- An undeveloped land on Oyinkan Abayomi Drive, Ikoyi, Lagos
- A bungalow on Oyinkan Abayomi Drive, Ikoyi, Lagos
- A four-bedroom duplex on Probyn Road, Ikoyi
- An industrial complex under construction on 22 plots of land in Agbor, Delta State
- Eight units of an undetached apartment on Adekunle Lawal Road, Ikoyi
- A full duplex with appurtenances on Bank Road, Ikoyi, Lagos
Previous Court Authorization
On August 15, 2024, the court had authorized the Economic and Financial Crimes Commission (EFCC) to temporarily take custody of the cash and properties linked to Emefiele after an Exparte application from EFCC lead counsel Rotimi Oyedepo (SAN).
