Again, Court Okays Forfeiture Of N11.14bn Properties Linked to Emefiele

June 5, 2024
Summons Emefiele

By Adedapo Adesanya

The Federal High Court sitting in Lagos on Wednesday granted an order of interim forfeiture of properties valued at N11.4 billion linked to the embattled former Central Bank of Nigeria (CBN) governor, Mr Godwin Emefiele.

Justice Chukwujekwu Aneke gave the order sequel to a motion ex parte filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Mr Rotimi Oyedepo (SAN), who led Mrs Bilkisu Buhari-Bala and Mrs Chineye Okezie in the proceedings.

The court ordered the interim forfeiture of the properties to the federal government.

Mr Oyedepo informed the court that Mr Emefiele was suspected of having bought the choice properties by proxy, with the proceeds of fraud. The properties are mostly located in highbrow parts of the Federal Capital Territory, Abuja.

The EFCC also named three CBN Staff, Mr Obayemi Oluwaseun Teben, Mr Akomolafe Adebayo and Ms Olubunmi Makinde as Emefiele’s accomplices who used their positions and influence to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.

Justice Aneke mandated the EFCC to publish the order in the newspaper for any interested party to show cause why the final order of forfeiture should not be made, and adjourned till June 21 for the hearing of the motion for final forfeiture.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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