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Court Orders Fresh Seizure of $2.045m, Others From Emefiele

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By Adedapo Adesanya

The Federal High Court in Lagos has ordered another interim forfeiture from embattled former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, this time to include a cash sum of $2.045 million and seven landed properties, among others.

Justice Akintayo Aluko gave this directive on Thursday, August 15, after taking an application from the Economic and Financial Crimes Commission (EFCC) counsel, Mr Rotimi Oyedepo (SAN).

The seized lands are listed as “Two fully detached duplexes of identical structures, lying being and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped/bare land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 LYING, being and situate at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow lying, being and situate at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos; four bedroom duplex lying, being and situate at 12a Probyn Road, Ikoyi; Industrial complex under construction on a 22-plot of land, lying, being and situate in Agbor, Delta State; 8 units of the undetached apartment on a plot measuring 2457.60sqm OF lying, being and situate at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm lying, being and situate at 2a Bank Road, Ikoyi, Lagos”.

Justice Aluko further ordered the interim forfeiture of 2 shares of share certificates of Queensdorf Global Fund Limited Trust.

In urging the court to forfeit the assets, Oyedepo said the money and other items sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.

Mr Oyedepo also added that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006, Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.

The lawyer also told the court that the motion ex parte is supported by an affidavit deposed to by one Idi Musa, an Investigator attached to the Lagos office of the EFCC.

“In the cause of this investigation, it was revealed that the erstwhile CBN governor negotiates 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.

“That upon investigation, it was revealed that one Ifeanyi Omeke, a Deputy General Manager and Head, Litigation of Zenith Bank Plc, who worked closely with Godwin Emefiele ran several errands for him which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos. And that upon a search conducted in the office premises of Mr Ifeanyi Collins Omeke by the operatives, several seals for various companies including but not limited to Queensdorf Global Fund Limited were recovered.

“That the said seals were kept in the custody of Mr Ifeanyi Collins Omeke by Godwin Emefiele. And that Investigation has revealed that all seven companies listed above are suspected to be shell companies used by Godwin Emefiele as vehicles for money laundering and holding proceeds of his illicit activities.

“That sometime in 2018, one Olusola Bodunde acquired a parcel of land located at Hakeem Odumosu Street, Lekki Phase 1, Lagos and partnered with one Idowu Sharafa to develop three units of 5-bedroom duplexes with attached BQ on the land. And that sometime in 2020, one Ifeanyi Omeke approached Mr Olusola Bodunde and subsequently paid the total sum of N460,000,000. 00 (Four Hundred and Sixty Million Naira) for two of the three developed duplexes, purchased in the name of Amrash Ventures Limited, all on behalf and the instructions of Godwin Emefiele.

“That the sum of Two Million, Forty-Five Thousand Dollars ($2,045,000.00) and the shares certificate, were also recovered in the office of Mr. Collins Ifeanyi Omeke at the Zenith Bank Head office on Ajose Adeogun Street, Victoria Island, Lagos.

“That most of the proceeds of Godwin Emefiele’s illegal activities were invested in the acquisition of various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties now sought to be forfeited were not acquired with proceeds of any legitimate earnings but rather from funds reasonably suspected to have been derived from proceeds of unlawful activities.”

After listening to Mr Oyedepo’s submissions and reading through all the processes filed and the plethoras of legal authorities cited, Justice Aluko granted the interim forfeiture of the money, the share certificates and the landed properties.

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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Customs, NMDPRA Strengthen Interagency Efforts Against Fuel Diversion

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By Adedapo Adesanya

The Nigeria Customs Service (NCS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are strengthening their collaboration to combat the diversion of petroleum products intended for domestic use and to safeguard Nigeria’s energy security.

This renewed partnership was highlighted during a meeting between Comptroller General of Customs, Mr Adewale Adeniyi and the NMDPRA Executive Director of Distribution Systems, Storage and Retailing Infrastructure, Mr Ogbugo Ukoha, at Customs House, Maitama, Abuja.

During the engagement, Mr Adeniyi reaffirmed the service’s commitment to strengthening inter-agency cooperation, particularly in safeguarding Nigeria’s domestic energy security and ensuring that petroleum products meant for local consumption are not diverted to neighbouring countries.

He noted that collaboration between both agencies had already produced measurable results, especially through Operation Whirlwind, which he described as a model for intelligence sharing, joint enforcement and coordinated field operations.

He said the Nigeria Customs Service remains fully aligned with ongoing reforms in the petroleum regulatory space and will continue to provide technical input, operational feedback and border management expertise to support the implementation of new guidelines being developed by the NMDPRA.

He commended the Authority for its efforts to harmonise legacy processes with the Petroleum Industry Act, stressing that clear and efficient export point procedures are essential as Nigeria moves from being a net importer to an emerging exporter of petroleum products.

“We welcome every initiative that strengthens energy security and ensures that the gains made in reducing cross border diversion are not reversed. Our shared responsibility is to protect national interest, support legitimate trade and maintain a transparent system that stakeholders can rely on. We will continue to work closely with sister agencies to achieve these outcomes,” he stated.

In his remarks, the Executive Director, Mr Ukoha, said the NMDPRA enjoys a longstanding and productive working relationship with the Nigeria Customs Service, noting that Operation Whirlwind remained the high point of that collaboration.

He explained that both agencies deployed personnel, exchanged intelligence and jointly monitored petroleum products in border corridors, leading to a marked reduction in cross border diversion.

Ukoha said the purpose of the visit was to brief the CGC on newly developed guidelines for designating export points for petroleum products as Nigeria’s refining capacity expands.

He said the NMDPRA is engaging key institutions, including Customs, the Central Bank of Nigeria (CBN), the Federal Ministry of Industry, Trade and Investment, and the Nigerian Navy, to ensure the guidelines reflect operational realities before implementation.

The NMDPRA executive recalled several field operations and strategic engagements with the Customs leadership, including the joint launch of Operation Whirlwind in Yola, where both agencies reinforced their commitment to curbing diversion and securing the domestic supply chain.

He added that while enforcement had played a major role in reducing irregular movements of petroleum products, the removal of fuel subsidy had significantly reduced the economic incentive for cross border smuggling.

According to him, the authority will continue to work closely with the Customs Service to sustain progress and ensure that petroleum exports are properly regulated without exposing the country to energy security risks.

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Dangote Publishes Details of Farouk Ahmed’s Swiss School Fees for Kids

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By Adedapo Adesanya

The president of Dangote Group, Mr Aliko Dangote, has published details alleging extensive foreign education expenses made by the chief executive of the Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, on four children in a new turn of event between the businessman and regulators.

Speaking on Sunday, the business mogul alleged that Mr Ahmed paid about $5 million for the secondary school education of his four children in Switzerland, and wondered how the government official could afford to pay such amount of money when there are several students in the home state of Mr Ahmed, Sokoto State. He threatened to published more details.

In the latest illustrated claims, Mr Dangote alleged that Mr Ahmed’s children attended secondary schools in Switzerland for about six years each. He listed the schools as Montreux School, Aiglon College, Institut Le Rosey and La Garenne International School. He named the children of Mr Ahmed as Faisal Farouk, Farouk Jr., Ashraf Farouk, and Farhana Farouk.

Mr Dangote alleged that the total cost of secondary education for the four children — covering tuition, upkeep, travel and related expenses exceeded $5 million.

He further claimed that an additional $2 million was spent on university education for the four children over a four-year period.

Specific figures were also cited for 2025, with Mr Dangote alleging that about $210,000 was spent on one child’s Master of Business Administration programme at Harvard University.

The breakdown reportedly includes $150,000 for tuition and $60,000 for accommodation, travel and other incidentals.

The claims have not been independently verified by Business Post at the time of filing this report but Mr Dangote revealed these details in an advertorial in most of the national newspaper on Tuesday.

Also, Mr Ahmed has yet to publicly respond to the allegations.

Mr Dangote earlier called on the authorities to institute a full scale investigation into the activities of the NMDPRA boss, with the outcome made public.

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Supreme Court Empowers Tinubu to Declare Emergency Rule, Suspend Elected Officials

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By Adedapo Adesanya

The Supreme Court has upheld the power of the President to declare a state of emergency in any state to prevent a breakdown of law and order or degeneration into a state of chaos or anarchy.

In a split decision of six-to-one, the apex court held that the President, during a state of emergency, can suspend elected officials, but within a limited period.

In the lead majority judgment, Justice Mohammed Idris held that Section 305 of the Constitution empowers the President to deploy extraordinary measures to restore normalcy where emergency rule is declared.

Justice Mohammed Idris noted Section 305 was not specific on the nature of the extraordinary measures, thereby granting the President the discretion on how to go about it.

The judgment was on the suit filed by Adamawa State and 10 other Peoples Democratic Party-led states challenging the propriety of the state of emergency declared by President Bola Tinubu in Rivers State, during which elected state officials, including Governor Siminalayi Fubara, were suspended for six months.

On March 18, President Tinubu declared a state of emergency in Rivers State following a reported attack on crude oil pipelines; and in the same breath, suspended the sitting governor and his deputy, Mrs Ngozi Odu. He then put in place a sole administrator.

This was challenged at the apex court by some states.

Justice Idris, in the earlier part of the judgment, upheld the preliminary objections raised by the two defendants against the competence of the suit.

In upholding the objections raised by the Attorney General of the Federation (AGF) and the National Assembly (the defendants), Justice Idris held that the plaintiffs (the 11 PDP states) failed to establish any cause of action capable of activating the original jurisdiction of the apex court.

He struck out the suit for want of jurisdiction, proceeded to also determine the case on the merits, and dismissed it.

However, Justice Obande Ogbuinya dissented and held that the case succeeded in part.

Among others, Justice Ogbuinya held that although the President could declare a state of emergency, he cannot use such powers as a tool to suspend elected state officials, including governors, deputy governors, and members of parliament.

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