The Federal High Court in Lagos has mandated the final forfeiture of substantial assets connected to Godwin Emefiele, the erstwhile Governor of the Central Bank of Nigeria (CBN). The assets in question include $4.7 million, ₦830 million, and multiple high-value properties.
Details of the Forfeited Assets
The court’s decision encompasses a diverse array of assets:
•Monetary Assets: A total of $4.7 million and ₦830 million have been seized.
•Real Estate Holdings: Seven prime properties located in Lagos and Delta states are among the forfeited assets. These properties include luxury residences and commercial buildings.
•Corporate Investments: Share certificates associated with Queensdorf Global Fund Limited Trust have also been confiscated.
Legal Proceedings and Justifications
Justice Dehinde Dipeolu presided over the case and issued the final forfeiture order. The Economic and Financial Crimes Commission (EFCC) presented evidence suggesting that these assets were proceeds of unlawful activities. Despite opportunities to contest the forfeiture, neither Emefiele nor any representatives provided satisfactory explanations or documentation to substantiate the lawful acquisition of these assets.
Additional Forfeitures Linked to Emefiele
This ruling is part of a broader series of legal actions targeting assets linked to Emefiele. Notably:
•Massive Estate in Abuja. A sprawling estate comprising 753 duplexes, covering approximately 150,500 square meters in the Lokogoma District of Abuja, has been forfeited. This represents one of the largest asset recoveries by the EFCC to date.
•Warehouse and Containers Aarehouse situated on a 1.925-hectare plot along the Lagos-Ibadan Expressway in Magboro, Ogun State, along with 54 general-purpose steel containers, has also been seized following court orders.
Background on Godwin Emefiele
Godwin Emefiele served as the Governor of the Central Bank of Nigeria from 2014 until his suspension in June 2023. His tenure was marred by controversies, including allegations of financial misconduct and unauthorized allocation of foreign exchange. Following his suspension, Emefiele faced multiple arrests and legal challenges, culminating in the recent forfeiture orders.
