Court Orders Forfeiture Of Property Worth N11.14bn Linked To Emefiele

A Federal High Court in Lagos, yesterday, granted an order for the interim forfeiture of property valued at N11.14 billion allegedly linked to former Central Bank of Nigeria, CBN, governor, Mr. Godwin Emefiele.

Trial judge, Justice Chukwujekwu Aneke, granted the order following an-ex parte application filed and argued by Economic and Financial Crimes Commission, EFCC, counsel, Mr. Rotimi Oyedepo, SAN.
The court’s order mandates the interim forfeiture of the property to the Federal Government.

Oyedepo informed the court that Emefiele was suspected of purchasing the high-value property, primarily located in upscale areas of the Federal Capital Territory, Abuja, by proxy, using proceeds from fraud.

The EFCC also said three CBN staff members were Emefiele’s accomplices.

They are Makinde Olubunmi, Obayemi Teben and Adebayo Akomolafe and allegedly used their positions to secure retail and special allocations of foreign exchange for various companies in exchange for kickbacks.


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Justice Aneke has ordered the EFCC to publish the forfeiture order in a newspaper to allow any interested party or parties to present reasons why a final forfeiture order should not be issued.
The case has been adjourned to June 21 for the hearing of the motion for final forfeiture.

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