Posted by Amarachi on Fri 21st Feb, 2025 - tori.ng
Justice Bogoro held that the assets and funds in question were proceeds of illicit financial dealings.
The Federal High Court in Lagos has ordered the final forfeiture of $4.7 million, ₦830 million, and multiple properties linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN).
Delivering judgment on Friday, Justice Yellim Bogoro granted the final forfeiture application filed by the Economic and Financial Crimes Commission (EFCC).
The EFCC’s counsel, Bilkisu Buhari-Bala, successfully argued that the funds and properties were proceeds of unlawful activities.
The forfeited funds were held in accounts managed by individuals and entities, including First Bank, Titan Bank, and Zenith Bank accounts linked to Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
List Of Properties Forfeited
– 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos.
– AM Plaza, an 11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.
– Imore Industrial Park 1 on Esa Street, Imoore Land, Amuwo Odofin LGA, Lagos.
– Mitrewood and Tatler Warehouse (Furniture Plant at Bogije), near Elemoro, Owolomi Village, Ibeju-Lekki LGA, Lagos.
– Two properties purchased from Chevron Nigeria, located in Lakes Estate, Lekki, Lagos.
– A plot at Lekki Foreshore Estate Scheme, Eti-Osa LGA.
– An estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, USA owned by Lipam Investment Services.
– Land at 1 Bunmi Owulude Street, Lekki Phase 1, Lagos.
– A property at 8 Bayo Kuku Road, Ikoyi, Lagos.
Justice Bogoro held that the assets and funds in question were proceeds of illicit financial dealings.
“I find that the activities of the respondents here were unlawful. Why should they have a problem of dollars immediately Godwin Emefiele left CBN as governor and salary could not be paid?” the judge stated.
The court also ruled that Anita Omoile, a close associate of Emefiele, had undue influence in diverting funds from the CBN.
“Consequently, I find that all the monies and properties in the schedule are finally forfeited to the Federal Government of Nigeria,” the judge declared.
The EFCC, through its counsel Rotimi Oyedepo SAN, relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution to argue that the funds and properties were proceeds of unlawful activities.
Justice Bogoro had earlier granted an interim forfeiture order, mandating its publication in a national newspaper. Following the failure of the defendants to prove that the assets were lawfully acquired, the judge upheld the final forfeiture ruling in favour of the Federal Government.