A Federal High Court in Lagos has ordered the interim forfeiture of $2.04m and seven properties connected to former Central Bank of Nigeria Governor, Godwin Emefiele.
Justice Akintayo Aluko made the order on Thurday following an application by the Economic and Financial Crimes Commission (EFCC), which is investigating alleged fraudulent activities linked to Emefiele.
The property includes prime real estate in Lekki and Ikoyi, Lagos, as well as a large industrial complex under construction in Agbor, Delta State.
Aluko stated that the interim forfeiture was necessary to prevent the dissipation of assets suspected to be proceeds of unlawful activities.
“The money and properties in question are reasonably suspected to be proceeds of unlawful activities.
“We urge the court to grant this application to prevent any further dissipation of these assets,” Oyedepo said.
The property, as listed, include two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; a 1,919.592 sqm undeveloped land on Oyinkan Abayomi Drive (formerly Queens Drive) in Ikoyi; a bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex on 22 plots in Agbor, Delta State; eight apartments on Adekunle Lawal Road, Ikoyi; and a full duplex at 2a Bank Road, Ikoyi.
In addition to the property, the court also ordered the interim forfeiture of two share certificates of Queensdorf Global Fund Limited Trust, a company allegedly linked to Emefiele.
EFCC’s counsel, Mr. Rotimi Oyedepo, (SAN), who brought the application for the orders in a suit marked FHC/L/MISC/500/24, before the court argued that the assets were obtained through fraudulent activities.
Oyedepo added that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences (Act No. 14, 2006, Section 44 (2)(B)) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.
He also informed the court that the motion exparte is supported by an affidavit deposed to by one Idi Musa, an investigator attached to the Lagos office of the EFCC.
The EFCC’s investigation, as detailed in court documents, revealed that Emefiele allegedly negotiated kickbacks in exchange for foreign exchange allocations to companies in need of foreign currency for legitimate business purposes.
However, Aluko, after listening to Oyedepo’s submission, and reading through all the processes filed and the plethora of legal authorities cited, granted the interim forfeiture of the money, the share certificates and the landed property
The judge directed the EFCC to publish the interim forfeiture order in national newspapers to notify any interested parties.
He said that the parties have 14 days to appear before the court and give reasons why the property should not be permanently forfeited to the Federal Government.
The case has been adjourned till September 5, 2024, for further hearing.
PUNCH
