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Court Orders Final Forfeiture Of $2.04M And Properties Linked To Godwin Emefiele

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Federal High Court in Lagos has ruled for the final forfeiture of $2.045 million, seven landed properties, and share certificates associated with former Central Bank of Nigeria Governor, Godwin Emefiele.

Court Orders Final Forfeiture Of $2.04M And Properties Linked To Godwin Emefiele

Justice Deinde Dipeolu ordered the final forfeiture after noting that neither Godwin Emefiele nor any other parties contested the initial interim forfeiture.

The judge also stated that Emefiele was unable to prove that his legal income from Zenith Bank or the Central Bank of Nigeria funded the acquisition of these properties.

Godwin Emefiele claimed no connection to the companies holding these assets, and these companies did not appear in court to defend the ownership.

The listed companies include Amrash Ventures Limited, Modern Hotels Limited, and Finebury Properties Limited, among others.

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Justice Dipeolu held, “the conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies does not want to come to light.”

The judge further held “that the interested party has failed to demonstrate any lawful interest in the properties and that they were aquired from his legitimate earnings”.

“I therefore order the final forfeiture to the Federal Government of Nigeria of all those properties…which are reasonably suspected to have been acquired with proceeds of unlawful activities.”

The properties include two identical detached duplexes in Lekki Phase 1, Lagos; an undeveloped parcel of land on Oyinkan Abayomi Drive in Ikoyi; a bungalow at No. 65a Oyinkan Abayomi Drive; and a four-bedroom duplex at Probyn Road, Ikoyi.

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Other assets forfeited are an industrial site in Delta State, an apartment complex on Adekunle Lawal Road, Ikoyi, and a duplex on Bank Road, Ikoyi.

This ruling follows an earlier decision on August 15, 2024, granting the Economic and Financial Crimes Commission (EFCC) temporary possession of these assets.

The EFCC claimed they were reasonably suspected to be from unlawful activities.

Despite appeals from Emefiele’s lawyer, Olalekan Ojo (SAN), to halt the proceedings, the court granted the final forfeiture.

KanyiDaily recalls that the court recently imposed a N3 million fine jointly on the EFCC for declaring Godwin Emefiele’s wife, Margaret wanted.

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