The Federal High Court in Lagos has ordered the permanent forfeiture of substantial funds and properties connected to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN). Justice Yellim Bogoro made the ruling on Friday, after hearing the case brought by the Economic and Financial Crimes Commission (EFCC).
The court ordered the final forfeiture of $4.7 million, ₦830 million, and a series of properties linked to Emefiele and his associates, declaring them proceeds of unlawful activities. This includes funds in various bank accounts such as First Bank, Zenith Bank, and Titan Bank, linked to entities and individuals like Anita Joy Omoile and companies such as Rosajul Global Resources Ltd, Tatler Services Limited, and TIL Communication Nigeria Ltd.
The assets forfeited include several high-value properties, including:
- 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos.
- AM Plaza, an office complex in Lekki.
- Multiple industrial parks and warehouses in Lagos.
- Several prime real estate locations in Lagos, including properties in Lekki, Ikoyi, and Texas.
Additionally, investments worth $900,000 belonging to Anita Joy Omoile, one of Emefiele’s close relatives, were also ordered to be forfeited.
The EFCC accused Emefiele of using his position as CBN Governor from 2014 to 2023 to illicitly channel funds through his associates, including Omoile, who allegedly ran an unlicensed bureau de change business. Omoile is said to have used her connections to facilitate large sums of money flowing from the CBN.
In her judgment, Justice Bogoro emphasized the unlawful nature of the funds and properties, noting that they could not be attributed to legitimate business activities. The court dismissed attempts by the defense to halt the judgment and affirmed that the assets were to be permanently forfeited to the Federal Government of Nigeria.
The ruling marks another significant step in the ongoing efforts by the EFCC to combat financial crimes and recover illicitly acquired wealth from individuals in positions of power.
