Court orders final forfeiture of $1.4m linked to Emefiele

A federal high court in Lagos has ordered the permanent forfeiture of $1.4 million allegedly linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).

In a ruling delivered on Thursday by Ayokunle Faji held, the court held that the Economic and Financial Crimes Commission (EFCC) successfully established that the funds were proceeds of unlawful activities and must be forfeited to the federal government.

The EFCC, represented by its counsel Bilkisu Bahri-Bala, told the court that $1,426,175.14 was found in an account belonging to Donatone Limited at Titan Trust Bank.

The anti-graft agency said its investigations linked the funds to fraudulent dealings.

An affidavit submitted by David Jayeoba, an EFCC investigator, detailed how intelligence reports led to the discovery of the money.

The agency alleged that Emefiele used Donatone Limited and its directors, Uzeobo Anthony and Adebanjo Olurotimi, to conceal illicit funds.

“…That investigation revealed that Uzeobo Anthony and Adebanjo Olurotimi are some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Godwin Emefiele,” the affidavits read

“That both men were procured by Emefiele and used to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.

“That both men used Donatone Ltd to collect bribes and gratification on behalf of Emefiele to get approval for accessing forex.”

The judge had issued an interim forfeiture order on May 30, 2024, before ruling on the permanent forfeiture of the funds.