The Federal High Court in Lagos has ordered the interim forfeiture of $2.04 million and seven valuable properties tied to Mr. Godwin Emefiele, the former Governor of the Central Bank of Nigeria.
The ruling, delivered on Thursday by Justice Akintayo Aluko, comes amidst ongoing investigations by the Economic and Financial Crimes Commission (EFCC) into alleged corrupt practices involving the former central bank chief.
The properties under scrutiny include high-end real estate in Lagos’ affluent Lekki and Ikoyi areas, as well as a sprawling industrial site in Agbor, Delta State. Justice Aluko stressed that the order was necessary to prevent the properties and funds from being further dispersed or hidden.
He remarked, “The properties listed in this application are reasonably suspected to have been acquired through proceeds of unlawful activities.”
Among the assets listed for temporary forfeiture are two fully detached duplexes in Lekki, a sizable plot of undeveloped land and several luxury homes in Ikoyi, and an industrial complex in Delta State. Additionally, the court ordered the forfeiture of two share certificates from Queensdorf Global Fund Limited Trust, a company allegedly linked to Emefiele.
The EFCC, represented by Senior Advocate of Nigeria Rotimi Oyedepo, filed the application for the interim forfeiture. Oyedepo argued that the funds and properties were obtained through questionable means. He emphasized that “the money and properties in question are reasonably suspected to be proceeds of unlawful activities,” adding that the court has the authority to make such orders under Nigerian law.
Court documents presented by the EFCC outlined how Emefiele allegedly negotiated bribes in return for foreign exchange allocations to companies.
EFCC investigator Idi Musa claimed that these properties were bought through shell companies connected to Emefiele for the purpose of laundering money.
He said, “Sometime in 2018, one Olusola Bodunde acquired a parcel of land located at Hakeem Odumosu Street, Lekki Phase 1, Lagos and partnered with one Idowu Sharafa to develop three units of 5 bedroom duplexes with attached BQ on the land.
“Sometime in 2020, Omeke approached Bodunde and subsequently paid the total sum of N460, 000, 000, for two of the three developed duplexes, purchased in the name of Amrash Ventures Limited, all on behalf and on the instructions of Godwin Emefiele.
“That the sum of $2,045,000m and the shares certificate, were also recovered in the office of Mr. Collins Ifeanyi Omeke .
“Upon investigation, we discovered that Mr. Omeke purchased and perfected the title documents for several properties on behalf of Mr. Emefiele.
“Most of the fraudulently earned funds were invested in acquiring these properties, which are now sought to be forfeited to the Federal Government.”
The court has given 14 days for any parties with an interest in the properties or funds to come forward and present their case. If no objections are raised, the assets may be permanently forfeited to the Nigerian government. The case is set to resume on September 5, 2024.
