Emefiele loses N12.18 billion properties through Court Orders

The Justice Chukwujekwu Aneke-led Federal High Court in Lagos has ordered the final forfeiture of properties belonging to the former Governor of the Central Bank of Nigeria, Godwin Emefiele which is worth N11,140,000,000 and N1.04 billion to the Federal Government.

The order followed an application filed by the Economic and Financial Crimes Commission, EFCC believed to be proceed of crime which was argued by one of its lawyers, Chineye Okezie.
The final forfeiture followed the temporary forfeiture which was ordered on June 5, 2024 after an exparte application was moved by the anti-graft counsel, Rotimi Oyedepo, SAN.

The Court further directed the EFCC to publish its order in the national dailies for any member of the public to show cause why the former governor of the Central Bank of Nigeria should not forfeit the affected properties.
Lawyer to the EFCC had established that Emefield owned those properties through proxy with the proceed of fraud when he was governor of the CBN, adding that Emefiele used two current and one ex-staff of CBN as accomplices in the fraud he perpetuated.
The trio, according to the affidavit filed in support of the application, are Obayemi Oluwaseun Teben and Akomolafe Adebayo, working with Olubunmi Makinde, a former CBN staff member and others.

The properties are primarily located in highbrow parts of the Federal Capital Territory (FCT), Abuja.
At the resumed hearing of the matter on Friday, no interested party showed up to contest the judge’s interim order, so Okezie moved her motion for permanent forfeiture.

After reading a 41-paragraph affidavit deposed to by an EFCC investigating officer, Michael John Idoko, the 19 exhibits attached, a written address signed by Okezie and hearing Okezie’s motion, Justice Aneke granted the application.
The EFCC listed the properties in two schedules, A and B.
They include shops and apartments at Cadastral Zone Maitama and Wuse.
The properties also include lands and a half on behalf of Oluwaseun at a total value of N1.04 billion.

The EFCC had claimed in the affidavit that Obayemi Oluwaseun Teben and Akomolafe Adebayo, working with Olubunmi Makinde, used their positions and influence as CBN staff to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.