Court orders final forfeiture of $1.4m linked to Emefiele

A federal high court in Lagos has ordered the final forfeiture of $1,426,175.14 linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).

In a ruling on Tuesday, Ayokunle Faji, presiding judge, ordered the funds to be forfeited to the federal government.

The Economic and Financial Crimes Commission (EFCC) had secured an interim order of forfeiture on May 29.

In a bid to provide anyone interested in the money an opportunity to appear in court and provide justification for why it should not be forfeited permanently, the judge had directed the commission to publish the court order in a national newspaper.

At the resumed hearing on Tuesday, Bilkisu Buhari-Bala, EFCC counsel, said the commission had complied with the publication order and no one had come forward to claim the money.

The counsel said the funds were proceeds of unlawful activities.

Buhari-Bala said investigation by the EFCC revealed that the former CBN governor received the money as kick-backs for approving forex allocation to multinational firms.

The EFCC lawyer said the court was empowered by Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act to make a forfeiture order.

In an affidavit filed in support of the final forfeiture application, David Jayeoba, an EFCC investigator, said the anti-graft agency uncovered the money through credible and direct intelligence.

“Part of the said funds, which represent the proceeds of Godwin Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited,” the affidavit reads.

“Uzeobo Anthony and Adebanjo Olurotimi were procured by Godwin Emefiele and used to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.

“Between 2021 and 2022, when accessibility to forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source forex.

“Both Uzeobo Anthony and Adebanjo Olurotimi used to collect bribes and gratification on behalf of Godwin Emefiele to get approval for accessing forex.

“One of the entities paid a total sum of $26,552,000.00 into the account domiciled in Titan Trust account number 2000000500.

“The said credits came into the account on the 9th of November 2021: $6,450,000; 15th of November 2021: $6,050,000.00; 16th of December 2021: $5,400,000.00; 23rd of December 2021: $652,000, 31th January 2022: $3,000,000.00 and on the 21st September 2022: $5,000,000.00.

“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.

“Of the total sum of $26, 555, 000.00 received by Donatus Limited, the balance standing in the said account as of today is $1,426, 175. 14.

“It is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of Godwin Emefiele and his cronies.”

In his ruling, Faji said: “Having been satisfied with applicant’s application and submission of counsel, I hereby grant the prayer finally forfeiting the said funds in question.”