Court Orders Final Forfeiture Of $2.04m, Properties, Shares Linked to Emefiele
The Federal High Court sitting in Lagos on Friday ordered the final forfeiture of the sum of $2.045m, seven choice landed properties and share certificates linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Justice Deinde Dipeolu ordered the permanent forfeiture of the monies and the two share certificates of Queensdorf Global Fund Limited Trust, after holding that the former CBN governor or any other interested party did not contest same after the initial interim forfeiture.
The court also forfeited the seven choice landed properties on the ground that the former CBN Governor, Emefiele, was not able to connect his lawful earnings from Zenith Bank and the Central Bank of Nigeria (CBN) to the acquisition of the properties.
The court held that the former CBN Governor failed to provide documents or links to show that he owned the properties.
Emefiele had denied any connection between him and the companies in whose names the properties were purchased and the companies had also failed to appear before the court to claim the properties.
The EFCC had listed the companies as; Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited and SDEM Erectors Nigeria Limited.
Justice Dipeolu held, “the conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies does not want to come to light.”
The judge further held “that the interested party has failed to demonstrate any lawful interest in the properties and that they were aquired from his legitimate earnings”.
“I therefore order the final forfeiture to the Federal Government of Nigeria of all those properties…which are reasonably suspected to have been acquired with proceeds of unlawful activities.”
The properties are: two fully detached duplexes of identical structures, lying being and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos and a four-bedroom duplex at 12a Probyn Road, Ikoyi.
Others are an industrial complex under construction on 22 plots of land in Agbor, Delta State; 8 units of an undetached apartment on a plot measuring 2457.60sqm at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm at 2a Bank Road, Ikoyi, Lagos.
On August 15, 2024, the court had authorised the EFCC to temporarily take custody of the cash sum of $2.045million, seven choice landed properties and shares linked to Emefiele after hearing an Exparte application filed by lead counsel to the Commission, Rotimi Oyedepo (SAN).
The court’s ruling followed the EFCC’s assertion that the money and other items sought to be forfeited were reasonably suspected to be proceeds of unlawful activities
However, counsel to Emefiele, Senior Advocate of Nigeria, Olalekan Ojo had urged the court to stay proceedings and not grant the final forfeiture of the properties.
