A Federal High Court in Lagos has ordered the interim forfeiture of $1.4 million linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), to the Federal Government of Nigeria.
Justice Ayokunle Faji issued the order, requiring the Economic and Financial Crimes Commission (EFCC) to publish the forfeiture order in a national newspaper.
This will allow any interested parties to appear before the court within 14 days to contest the final forfeiture of the funds.
The forfeited funds are held in the account of Donatone Limited at Titan Bank Limited. Justice Faji adjourned the matter to June 25 for the final forfeiture hearing.
This action follows a similar ruling on May 23 by Justice Yellim Bogoro of the same court, which ordered the interim forfeiture of $4.7 million, N830 million, and several properties also linked to Emefiele.
At the proceedings, EFCC counsel Bilikisu Buhari-Bala moved the ex parte application.
She argued that the court had the authority under Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act No. 14, 2006, and Section 44(2)(B) of the 1999 Constitution to grant the forfeiture order.
She claimed that the funds were suspected to be proceeds of unlawful activities.
The supporting affidavit, deposed by EFCC investigator David Jayeoba, detailed the investigation’s findings. The EFCC traced funds suspected to be proceeds of unlawful activities to the Donatone Limited account.
The directors of Donatone Limited, Uzeobo Anthony and Adebanjo Olurotimi, were identified as key figures in the fraudulent concealment of these funds.
They allegedly collected bribes and gratifications on behalf of Emefiele to facilitate forex access during a period when it was difficult to obtain.
The affidavit revealed that between 2021 and 2022, substantial amounts were deposited into Donatone Limited’s account.
The deposits included $6.45 million on November 9, 2021, $6.05 million on November 5, 2021, $5.4 million on December 16, 2021, $652,000 on December 23, 2021, $3 million on January 31, 2022, and $5 million on September 21, 2022.
These funds were subsequently laundered through a foreign account in Mauritius and reintroduced into Nigeria.
Of the total $26.55 million deposited, the current balance in the account stands at $1.426 million, which is the amount the EFCC seeks to forfeit.
The EFCC believes the funds are proceeds of unlawful activities and are attempting to prevent their dissipation by the account’s signatories, who are currently at large.
The May 23 forfeiture order by Justice Bogoro included $4.7 million, N830 million, and various properties linked to Emefiele.
The assets are held in accounts at First Bank, Titan Bank, and Zenith Bank, operated by entities such as Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, and others.
The properties provisionally forfeited include 94 units of an 11-floor building under construction at Otunba Elegushi 2nd Avenue, Ikoyi, Lagos; AM Plaza, an 11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park, Esa Street, Imoore Land; and several other properties in Lagos.
This case highlights ongoing efforts by Nigerian authorities to recover assets linked to alleged fraudulent activities and misuse of public funds.
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