Federal High Court Orders Interim Forfeiture of Former CBN Governor Emefiele’s Assets

 

In a significant development, the Federal High Court in Lagos has granted an order for the interim forfeiture of assets linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN). The assets, valued at $2.045 million, include cash, prime properties, and shares in a trust.

The order was granted on Thursday by Justice Akintayo Aluko, following an application by the Economic and Financial Crimes Commission (EFCC), led by Rotimi Oyedepo (SAN). The EFCC alleges that the assets are suspected proceeds of illegal activities, including foreign exchange allocation kickbacks and money laundering.

The forfeited assets include:

– $2.045 million in cash
– Seven prime properties located in Lekki, Ikoyi, and Agbor
– Shares in Queensdorf Global Fund Limited Trust

The EFCC’s application was supported by an affidavit from investigator Idi Musa, which detailed the commission’s investigation into fraudulent activities involving senior CBN officials. The affidavit alleged that Emefiele was implicated in negotiating kickbacks for foreign exchange allocations and that properties were acquired through shell companies used for laundering money.

The court has given interested parties 14 days to contest the order before a final ruling is made in favor of the Federal Government of Nigeria. The case has been adjourned to September 5 for further hearings.

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