Court orders interim forfeiture of N830m, $4.7m, properties ‘linked’ to Emefiele

The federal high court in Lagos has granted the interim forfeiture of $4,719,054, N830,875,611, and other assets linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).

The Economic and Financial Crimes Commission (EFCC) had approached the court for the interim forfeitures because there were “proceeds of unlawful activities”.

Bilkisu Buhari, counsel to the anti-graft agency, filed the ex parte application for the forfeiture.

“An interim order forfeiting to the Federal Government of Nigeria the funds warehoused in the accounts particularized in Schedule ‘A’ which funds are reasonably suspected to be proceeds of unlawful activities,” the court document reads.

“An interim order forfeiting to the Federal Government of Nigeria properties provided in 2nd Schedule ‘B’ which are proceeds of unlawful activities.

“An order directing the publication in any national newspaper, the interim order under reliefs 1-2 above, for anyone interested in the properties and funds sought to be forfeited to appear before this honourable court to show cause within 14 days why the final order of forfeiture of the said properties and funds should not be made in favour of the Federal Government of Nigeria.”

THE RULING

On Thursday, Yellim Bogoro, the presiding judge, granted EFCC’s prayers on the forfeiture.

“The applicant should publish this order in any daily newspaper circulating all over the federation for anybody interested to show cause why the final order of forfeiture should not be made,” Bogoro ruled.

The case was adjourned to July 2 for the motion for final forfeiture.

THE ASSETS

The funds that have been forfeited to the federal government in the interim are said to be domiciled in First Bank; Titan Bank and Zenith Bank, being operated by Omoile Anita Joy; Deep Blue Energy Service Limited; Exactquote Bureau De Change Ltd; Lipam Investment Services Limited; Tatler Services Limited; Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.

The properties include 94 Units of an 11-floor building under Construction at 2, Otunba Elegushi 2nd Avenue Road, Ikoyi, Lagos; AM Plaza, 11-floor office space, situate on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, block b lot twin completed property in Lakes Estate. Lekki, Lagos.

Others are one plot measuring 1,038.069 sqm, at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; Estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, Owned by Lipam investment Services; a Land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos and a property situate on 8, Bayo Kuku Road, lkoyi, Lagos.

Emefiele is currently facing multiple trials over alleged abuse of office, unauthorised printing of the naira, and procurement fraud.