The Federal High Court in Lagos has ordered the interim forfeiture of $2.045 million, seven luxury properties, and shares associated with former Central Bank of Nigeria (CBN) Governor Godwin Ifeanyi Emefiele.
The assets, which include high-end properties in Lagos and Delta States, are suspected to have been acquired through illicit means.
Justice Akintayo Aluko issued the ruling on Thursday following a motion by Rotimi Oyedepo (SAN), representing the Economic and Financial Crimes Commission (EFCC). The case, identified as FHC/L/MISC/500/24, involves an affidavit from EFCC investigator Idi Musa, detailing properties in Lekki, Ikoyi, and Agbor that are linked to Emefiele’s alleged fraudulent activities.
According to the EFCC, the assets and funds in question are believed to be proceeds from illegal activities. The commission’s affidavit highlights several properties, including two duplexes on Hakeem Odumosu Street in Lekki Phase 1, a bungalow, and other luxury properties in Lagos and Delta States. Shares from Queensdorf Global Fund Limited Trust are also implicated.
Justice Aluko directed that the interim forfeiture order be published in national newspapers, providing interested parties 14 days to challenge the decision. The case has been adjourned to September 5 for further proceedings.
In the affidavit, the EFCC outlined a broader corruption scheme involving senior CBN officials, noting that “the former CBN governor negotiated kickbacks in exchange for allocating foreign exchange to companies.” The affidavit further details that “one Ifeanyi Omeke, a Deputy General Manager at Zenith Bank, was involved in purchasing and perfecting title documents for several properties on behalf of Emefiele.”
The investigation revealed that “documents recovered from Omeke’s office led to the discovery of multiple properties acquired through alleged fraudulent activities.” The EFCC is pushing for the final forfeiture of these assets, asserting that “the properties were not acquired through legitimate earnings but through proceeds from unlawful activities.”
The EFCC’s affidavit also explains that “the properties were acquired and held under corporate entities to hide their unlawful origins.” The commission is seeking to have these assets permanently forfeited to the Federal Government of Nigeria. The next court hearing on the matter is scheduled for September 5.
