The Federal High Court in Lagos has permanently forfeited properties valued at N11.14 billion and an additional N1.04 billion, linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
Justice Chukwujekwu Aneke issued the final forfeiture order after considering a motion filed and argued by the Economic and Financial Crimes Commission (EFCC) through its counsel, Chineye Okezie.
The initial interim forfeiture was granted on June 5, 2024, following a motion by EFCC counsel Rotimi Oyedepo (SAN).
Oyedepo informed the court that Emefiele was suspected of acquiring the properties through proxies with proceeds from fraudulent activities. The EFCC named three accomplices in the alleged fraud: current CBN staff members Obayemi Oluwaseun Teben and Akomolafe Adebayo, along with former CBN staffer Olubunmi Makinde.
The properties, primarily located in highbrow areas of the Federal Capital Territory (FCT), Abuja, were ordered to be publicly listed in a national newspaper, inviting any interested parties to contest the final forfeiture order. When the case resumed on Friday, June 21, no objections were raised, allowing Okezie to proceed with the motion for permanent forfeiture.
Justice Aneke, after reviewing a 41-paragraph affidavit by EFCC Investigating Officer Michael John Idoko, along with 19 exhibits and a Written Address signed by Okezie, granted the application. The properties were detailed in two schedules, A and B.
Justice Aneke stated: “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”
The properties listed in Schedule A include shops and apartments in Cadastral Zones Maitama and Wuse.
For Schedule B, Justice Aneke added: “That a final forfeiture order of this Honourable Court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”
The Schedule B properties include lands and apartments paid for on behalf of Oluwaseun, totaling N1.04 billion.
According to the affidavit, Teben and Adebayo, using their positions at the CBN, secured special allocations of foreign exchange for various companies in exchange for kickbacks, facilitated by Makinde. They exploited their access to bidding processes and data to benefit companies applying for foreign exchange approvals from the CBN.
