Court orders final forfeiture of properties linked to Emefiele and $2.045 million in cash

A Federal High Court sitting in Lagos has ordered the former Central Bank of Nigeria (CBN), governor Godwin Emefiele, to forfeit a total of $2.045 million in cash, eight preferential properties in Lagos and the Delta, as well as two shares to the Federal Government. gave. Certificates of a company.

Judge Deinde Dipeolu ordered the permanent forfeiture of the funds and two shares of the Queensdorf Global Fund Limited Trust, noting that neither the former CBN executive nor any interested party objected to the initial temporary forfeiture.

Additionally, the court forfeited seven prime land properties, stating that Emefiele failed to show that there was a connection between his legitimate gains from Zenith Bank and CBN and the purchase of these properties.

The court noted that Emefiele did not produce any documents or evidence to prove his ownership of the properties.

However, Emefiele denied any connection with the companies under whose names the properties were purchased, and these companies did not appear in court to claim their rights.

EFCC listed the companies as Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H&Y Business Global Limited and SDEM Erectors Nigeria Limited.

Judge Dipeolu concluded that there was something suspicious about the purchase of the properties that Emefiele and the companies tried to conceal.

The judge also stated that the relevant party had not demonstrated a legal interest in the properties acquired through illegitimate earnings.

As a result, he ordered the final confiscation of all property to the Federal Government of Nigeria as it was reasonably suspected to have been acquired through illegal activities.

The properties include Hakeem Odumosu Street No. There are two identical fully detached duplexes located at 17b, Lekki Phase 1, Lagos and an undeveloped land measuring 1919,592 sqm with DS/LS/340 Survey Plan at Oyinkan Abayomi Drive (formerly Queens Drive). Ikoyi, Lagos; a bungalow at 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos and a four-bedroom duplex at 12a Probyn Road, Ikoyi.

Others are an industrial complex under construction on 22 plots in Agbor, Delta State; No. 8 detached flats on a plot of 2457.60 sqm at 8a Adekunle Lawal Road, Ikoyi and a full duplex with all annexes on a plot of 2217.87 sqm at 2a Bank Road, Ikoyi, Lagos.

DAILY POST recalls that on August 15, 2024, the court authorized the EFCC to take temporary custody of the assets.