The Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to the former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
The judge, Ayokunle Faji, gave the order on Thursday following an application filed on 25 June 2024 by the Economic and Financial Crimes Commission (EFCC).
EFCC investigator David Jayeoba said in affidavit filed in support of the application that the funds, suspected to be proceeds of unlawful activities., were traced to Donatone Limited’s account with Titan Trust Bank,
Mr Jayeoba explained that investigations revealed the funds were initially placed in interest-yielding accounts, laundered through a foreign account in Mauritius, and later channelled back to Nigeria under false pretences.
“Of the total sum of $26,552,000.00 USD received by the firm, the balance standing in the said account as of today is the sum of $1,426,175.14 million USD.
“It is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of erstwhile Central Bank Governor of Nigeria, Mr Godwin Emefiele and his cronies,” Mr Jayeoba stated.
In response, Donatone Limited’s lawyer filed a counter-affidavit on 25 November 2024, disputing the EFCC’s claims.
However, in a reply dated 29 November 2024, the EFCC countered the firm’s argument with additional evidence.
Ruling
Mr Faji ruled that any party laying claim to the funds must prove they were lawfully acquired.
“Having listened to the submission of the applicant’s counsel and also perused the motion just moved, together with the affidavit in support, the motion is hereby granted,” he ruled.
Mr Faji granted the application for final forfeiture of the fund.
This is not the first time Mr Emefiele has faced asset forfeiture since his ordeals started in 2023.
In a separate case, the Federal High Court in Lagos ordered the final forfeiture of N830 million, $4.7 million, and multiple properties linked to him.
Trial judge Yellim Bogoro granted that order following an EFCC motion, which argued that the assets were proceeds of fraud.
The properties included 94 units of an 11-story building in Ikoyi, an 11-story office complex in Lekki, and an estate in Texas, USA.
Other forfeited assets included €20,000, £1,999.50, and a $900,000 investment.
The EFCC stated that no valid claims were made to the assets, prompting the court to grant final forfeiture.
Mr Bogoro, in his ruling, questioned the sudden dollar shortages after Mr Emefiele left office and the inability of some government institutions to pay salaries.
“I hold that they are not legitimate business activities. I hold that Anita Omoile is a close crony of the former CBN governor, Godwin Emefiele, who was given undue influence to unlawfully sway dollars from the CBN,” Mr Bogoro ruled.
The court ordered that all forfeited assets be transferred to the Federal Government.
Mr Emefiele, who was removed as CBN governor by President Bola Tinubu in 2023, is currently facing multiple corruption charges in Lagos and Abuja.
However, the forfeiture rulings are non-conviction-based, meaning they were granted without a criminal conviction
