A Federal High Court in Lagos has ordered the interim forfeiture of $2.04 million and seven properties allegedly connected to former Central Bank of Nigeria Governor, Godwin Emefiele. Justice Akintayo Aluko granted the order on Thursday following an application by the Economic and Financial Crimes Commission (EFCC), which is investigating alleged fraudulent activities linked to Emefiele.
The properties subject to the interim forfeiture order include high-value real estate in Lekki and Ikoyi, Lagos, as well as a large industrial complex under construction in Agbor, Delta State. The court also ordered the forfeiture of two share certificates of Queensdorf Global Fund Limited Trust, a company allegedly associated with Emefiele.
Justice Aluko emphasized that the interim forfeiture was necessary to prevent the potential dissipation of assets suspected to be proceeds of unlawful activities. He stated, “The property listed in this application are reasonably suspected to have been acquired through proceeds of unlawful activities.”
According to court documents, the EFCC’s investigation uncovered potential kickbacks negotiated by Emefiele in exchange for foreign exchange allocations to companies with legitimate business needs. Ifeanyi Omeke, a senior executive at Zenith Bank, allegedly acted on Emefiele’s instructions and facilitated the acquisition and perfection of title documents for several properties located in affluent areas of Lagos.
EFCC counsel, Mr. Rotimi Oyedepo, argued that the assets were obtained through fraudulent activities and urged the court to grant the application to prevent further dissipation of these assets. Justice Aluko directed the EFCC to publish the interim forfeiture order in national newspapers, allowing 14 days for any interested parties to appear before the court and contest the order.
As the investigation continues, the case highlights the importance of combating corruption and ensuring transparency within Nigeria’s financial sector, particularly among high-ranking officials.
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