A Federal High Court in Lagos has ordered the final forfeiture of $4.7 million, N830 million, and several high-value properties linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
Judge Yellim Bogoro granted the Economic and Financial Crimes Commission’s (EFCC) application for final forfeiture in a judgment delivered on Friday.
The seized funds were found in multiple bank accounts associated with individuals and corporate entities, including Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd. These accounts were held at First Bank, Titan Bank, and Zenith Bank.
The forfeited properties include a 94-unit, 11-floor building under construction in Ikoyi, Lagos; AM Plaza, an office complex in Lekki; Imore Industrial Park in Amuwo Odofin; a furniture plant in Ibeju-Lekki; two properties purchased from Chevron Nigeria in Lekki; and land at Lekki Foreshore Estate.
Additionally, an estate located at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services, along with land at 1 Bunmi Owulude Street, Lekki Phase 1, and a property at 8 Bayo Kuku Road, Ikoyi, were also forfeited.
Judge Bogoro ruled that the transactions related to these assets were not tied to legitimate business activities. He also noted that the sudden difficulty in accessing dollars following Emefiele’s departure from the CBN raised further concerns about the origins of the funds.
Furthermore, the judge identified Omoile Anita Joy as a close associate of the former CBN governor, who allegedly had undue access to forex from the apex bank.
“I find that the activities of the respondents here were unlawful. Why should they have a problem accessing dollars immediately after Godwin Emefiele left the CBN as its governor? I hold that they are not legitimate business activities,” Bogoro stated.
He further ruled, “I hold that Anita Omoile is a close crony of the former CBN governor Godwin Emefiele, who had undue influence in unlawfully swaying dollars from the CBN. Consequently, I find that all the monies and properties in the schedule are finally forfeited to the federal government of Nigeria.”
The judgment marks a significant step in the EFCC’s efforts to recover allegedly misappropriated public funds and curb financial misconduct in Nigeria.
