A Federal High Court in Lagos has ruled for the final forfeiture of $1.4 million linked to former Central Bank Governor Godwin Emefiele. Justice Olayinka Faji, in his ruling on Thursday, backed the Economic and Financial Crimes Commission (EFCC)’s claim that the sum, found in Donatone Limited’s account, was derived from unlawful activities and must be forfeited to the Federal Government.
EFCC counsel Bilkisu Bahari-Bala revealed the funds, totaling $1,426,175.14, were found in Donatone Limited’s account at Titan Trust Bank. Investigations uncovered a fraudulent scheme involving Emefiele and associates, including Donatone directors, Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped conceal illicit funds.
EFCC investigator David Jayeoba confirmed that the funds were part of a broader conspiracy involving bribes and forex approvals for Emefiele. The final forfeiture follows an earlier interim order issued in May 2024.
