Court Seizes $4.7M, N830M, Multibillion Naira Properties Linked to Former CBN Governor Emefiele

The Federal High Court in Ikoyi, Lagos has ordered the interim forfeiture of $4,719,054 USD, N830,875,611, and multiple high-value properties connected to Godwin Emefiele, the embattled former Governor of the Central Bank of Nigeria (CBN). Justice Yellim Bogoro issued the ruling on Thursday, May 23, 2024, following an ex-parte application presented by the Economic and Financial Crimes Commission (EFCC) counsel, Bilkisu Buhari and C.C. Chineye.

“I find merit in the application and same hereby granted as prayed,” stated Justice Bogoro. The judge further directed that the order be published in national newspapers, allowing interested parties to contest the final forfeiture.

The seized funds, temporarily forfeited to the Federal Government, were reportedly held in accounts managed by various entities including Omoile Anita Joy, Deep Blue Energy Service Limited, and Exactquote Bureau De Change Ltd.

Additionally, the properties forfeited encompass:

94 units of an 11-storey building under construction at 2, Otunba Elegushi 2nd Avenue, Ikoyi, Lagos.

AM Plaza, an 11-storey office space at 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.

Imore Industrial Park 1, Esa Street, and Mitrewood and Tatler Warehouse near Elemoro, Lagos.

Two properties purchased from Chevron Nigeria in Lekki, Lagos.

Other properties include a plot in Lekki Foreshore Estate, an estate in Coppell, Texas, a land parcel in Lekki Phase 1, and a property on Bayo Kuku Road, Ikoyi, Lagos.

The EFCC sought the interim forfeiture under the provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, the Nigerian Constitution, and the inherent jurisdiction of the court. The anti-graft agency’s motion also called for public notification of the interim forfeiture to invite any claims against the final forfeiture.

Justice Bogoro, after reviewing the EFCC’s submissions, scheduled a hearing for the motion for final forfeiture on July 2, 2024.