Emefiele to permanently forfeit N12bn property

The Federal High Court in Lagos has ordered the permanent forfeiture of properties worth over N11.14 billion and N1.04 billion belonging to the former Central Bank of Nigeria Governor, Godwin Emefiele to the Federal Government.

Justice Chukwujekwu Aneke issued the final forfeiture order after considering a motion filed by the Economic and Financial Crimes Commission, represented by counsel Chineye Okezie on Friday.

The judge said, “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”

The property included shops and apartments at Cadastral Zone Maitama and Wuse.

Aneke said, “A final forfeiture order of this Honourable Court is, hereby, made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”

The property included lands and apartments which were paid for on behalf of Oluwaseun at a total value of N1.04 billion.

Obayemi Oluwaseun Teben and Akomolafe Adebayo working with Olubunmi Makinde “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks, according to the affidavit.