Justice Yellim Bogoro of the Federal High Court in Lagos has ordered the final forfeiture of $4.7 million, N830 million, and several properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
The ruling followed an application by the Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Buhari-Bala. The court had earlier dismissed an objection from an interested party attempting to halt the judgment.
The forfeited funds were traced to accounts held at First Bank, Titan Bank, and Zenith Bank under various entities, including Omoile Anita Joy, Deep Blue Energy Service Limited, and Exactquote Bureau De Change Ltd.
The affected properties include a 94-unit, 11-floor building in Ikoyi, office spaces in Lekki, industrial parks, warehouses, and other assets in Lagos, as well as an estate in Texas, USA.
Justice Bogoro ruled that these assets were proceeds of unlawful activities, emphasizing that the transactions linked to Emefiele and his associates were not legitimate business operations. The judge found that Anita Omoile, identified as a close associate of Emefiele, unlawfully influenced the diversion of funds from the CBN.
Citing Section 17 of the Advance Fee Fraud Act and the Nigerian Constitution, the EFCC had initially secured an interim forfeiture order, which was later published in a national newspaper. With no legitimate claims made to the assets, the court granted the final forfeiture order, transferring the funds and properties to the federal government.