The Federal High Court in Lagos has issued a final forfeiture order on $4.7 million, N830 million, and several properties tied to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele
Delivering judgment on Friday, Justice Yellim Bogoro granted the request by the Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Buhari-Bala. The ruling came after the court dismissed an application seeking to halt the forfeiture.
The forfeited funds were held in accounts at First Bank, Titan Bank, and Zenith Bank, operated by individuals and entities including Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
The affected properties include 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos; AM Plaza, an 11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1 on Esa Street, Imoore Land, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro, Owolomi Village, Ibeju-Lekki LGA, Lagos; and two properties purchased from Chevron Nigeria, located in Lakes Estate, Lekki, Lagos.
Additional properties include a plot at Lekki Foreshore Estate Scheme, Foreshore Estate, Eti-Osa, LGA; an estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services; land at 1 Bunmi Owulude Street, Lekki Phase 1, Lagos; and a property at 8 Bayo Kuku Road, Ikoyi, Lagos.
Justice Bogoro ruled that the funds and properties were proceeds of unlawful activities and must be forfeited to the Federal Government.
“I find that the activities of the respondents here were unlawful. Why should they have a problem with dollars immediately after Godwin Emefiele left CBN as governor?” the judge questioned.
He also described Anita Omoile as a close associate of Emefiele who had undue influence in diverting funds from the CBN.
“Consequently, I find that all the monies and properties in the schedule are finally forfeited to the Federal Government of Nigeria,” Justice Bogoro declared.
The EFCC, through its counsel Rotimi Oyedepo SAN, cited Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution to justify the forfeiture. The court had previously ordered an interim forfeiture, directing its publication in a national newspaper.
With no defendants able to prove legitimate ownership of the funds and properties, the court made the forfeiture permanent.
This ruling adds to the EFCC’s ongoing efforts in asset recovery and anti-corruption enforcement under its Executive Chairman, Ola Olukoyede.
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