AGS NEWS – The Federal High Court in Lagos has ordered the permanent forfeiture of properties valued at over N11.14 billion and N1.04 billion belonging to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.

Justice Chukwujekwu Aneke issued the ruling following a motion filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie.

The court found that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities.

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The forfeited properties include shops and apartments in Maitama and Wuse, as well as lands and apartments purchased on behalf of Obayemi Oluwaseun Teben, valued at N1.04 billion.

An affidavit revealed that Emefiele and his accomplices, including current and former CBN staff members Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde, used their positions to secure foreign exchange allocations in exchange for kickbacks.

On June 5, 2024, Justice Aneke granted an interim forfeiture based on a motion by EFCC counsel Rotimi Oyedepo.

The court ordered the EFCC to publish the interim order, inviting interested parties to contest the final forfeiture.

On June 21, with no opposition, the court proceeded with the motion for permanent forfeiture. Justice Aneke, after reviewing the affidavit and exhibits presented by the EFCC, granted the application for permanent forfeiture.

The properties, listed in two schedules, are primarily located in upscale areas of Abuja.