Court Mandates Final Forfeiture of $2.045 Million, Properties Linked to Emefiele

A Federal High Court in Lagos has ordered the final forfeiture of $2.045 million in cash, alongside eight prime properties owned by former Central Bank of Nigeria (CBN) governor Godwin Emefiele.

The ruling, delivered by Justice Deinde Dipeolu, comes after Emefiele failed to contest the earlier interim forfeiture order.

Justice Dipeolu’s decision encompasses the permanent forfeiture of the funds and two share certificates belonging to Queensdorf Global Fund Limited Trust.

The judge emphasized that Emefiele did not provide any documentation to establish a legitimate connection between his income from Zenith Bank and the properties in question.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

“There seems to be something suspicious regarding the acquisition of the properties,” Justice Dipeolu stated, highlighting the absence of evidence to support Emefiele’s claims of ownership.

Additionally, the court noted that Emefiele denied any association with the companies linked to the properties, which did not appear in court to assert their claims.

The Economic and Financial Crimes Commission (EFCC) had identified these companies, including Amrash Ventures Limited and Modern Hotels Limited, among others.

The forfeited assets include two identical duplexes in Lekki, an undeveloped land in Ikoyi, and an industrial complex in Agbor, Delta State.

READ ALSO: Court Grants N10m Bail to #EndBadGovernance Protesters

The judge remarked that the interested parties failed to demonstrate any lawful interest in the properties, which were reasonably suspected to have been acquired through unlawful means.

The court had previously authorized the EFCC to temporarily take custody of the assets on August 15, 2024, leading to this decisive outcome.