Court orders fresh forfeiture of $2m, seven property linked to Emefiele

The Lagos federal high court has ordered the interim forfeiture of $2.045 million, seven landed properties, and shares linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

Akintayo Aluko, the presiding judge, made the order on Thursday after an application filed by Rotimi Oyedepo, a senior advocate of Nigeria (SAN), representing the Economic and Financial Crimes Commission (EFCC) in a suit marked FHC/L/MISC/500/24.

Oyedepo said the forfeited items were reasonably suspected to be proceeds of unlawful activities.

“In the course of this investigation, it was revealed that the erstwhile CBN governor negotiated kickbacks in return for allocation of foreign exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses,” he told the court.

“Upon investigation, it was revealed that one Ifeanyi Omeke, a deputy general manager and head of litigation of Zenith Bank Plc, who worked closely with Godwin Emefiele, ran several errands for him, which included the purchase and perfection of title documents for several properties located in highbrow areas of Lagos.

“And that upon a search conducted, several seals for various companies, including but not limited to Queensdorf Global Fund Limited, were recovered.

“That investigation has revealed that all seven companies… are suspected to be shell companies used by Godwin Emefiele as vehicles for money laundering and holding proceeds of his illicit activities.”

“The two shares’ certificates are of Queensdorf Global Fund Limited Trust, while the properties are all located in the highbrow Lekki and Ikoyi parts of Lagos and Agbor in Delta.

“The landed properties are listed as two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1; an undeveloped/bare land, measuring 1919.592 sqm with survey plan No. DS/LS/340 at Oyinkan Abayomi drive (formerly Queens drive), Ikoyi; a bungalow at No. 65a Oyinkan Abayomi drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex under construction on a 22-plot of land in Agbor; eight units of undetached apartments on a plot measuring 2457.60sqm at No. 8a Adekunle Lawal road, Ikoyi; and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm at 2a Bank road, Ikoyi.

“I also know as a fact and verily believe that the properties sought to be forfeited were acquired in the name of corporate entities with a view to concealing the unlawful origin of the funds used for their acquisition and that the title document in respect of the properties listed in schedule A herein were recovered by the team in the course of this investigation.”

The EFCC lawyer sought a forfeiture of the investments to the federal government.

After granting the request, the judge directed the EFCC to publish the interim forfeiture order in a national newspaper to enable anyone interested in the properties to appear before the court and show cause within 14 days of why it should not be made in favour of the government.

Further hearing of the matter was adjourned to September 5.