A Federal High Court in Lagos has ordered the permanent forfeiture of $4.7 million, ₦830 million, and several properties linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
The court also directed the final forfeiture of additional assets, including investments valued at $900,000, connected to one of Emefiele’s relatives, Anita Joy Omoile.
Justice Yellim Bogoro issued the ruling on Friday after the Economic and Financial Crimes Commission (EFCC) successfully applied for the final forfeiture.
The funds, now handed over to the Nigerian government, were held in accounts at First Bank, Titan Bank, and Zenith Bank, associated with Omoile, Deep Blue Energy Services Ltd, Exactquote Bureau De Change Ltd, Lipam Investment Ltd, and other entities.
In addition to the cash, the court also ordered the forfeiture of several properties, including a 94-unit building under construction in Ikoyi, Lagos, and an 11-floor office building in Lekki.
Other properties affected by the ruling include industrial parks, warehouses, and land in various locations in Lagos and even in the United States.
Justice Bogoro concluded that the funds and properties were the result of unlawful activities and should be forfeited to the Nigerian government.
He remarked that the questionable nature of the assets became evident after Emefiele departed from the CBN, noting that the funds did not appear to be tied to legitimate business activities.
The ruling followed the failure of the defendants to provide evidence that the assets were obtained legally.
