EFCC Files Fresh Charges Against Ex-CBN Governor Emefiele Over 753-Unit Abuja Estate

The Economic and Financial Crimes Commission (EFCC) has filed a new set of charges against former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, alleging unlawful acquisition of a 753-unit housing estate and control of billions of naira through proxy accounts.

According to court documents filed before a High Court of the Federal Capital Territory, Abuja, Emefiele is accused of colluding with one Eric Ocheme—who is currently at large—to acquire the estate located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja. The property spans over 150,000 square metres and was previously recovered by the EFCC from an unnamed senior government official. A forfeiture order was granted by the FCT High Court in Apo, transferring ownership to the Federal Government, which now plans to sell the estate to low- and middle-income Nigerians.

Emefiele, represented by senior advocate A.M. Kotoye, filed a motion to challenge the forfeiture order as an interested party. The High Court dismissed his application, prompting him to appeal the ruling at the Court of Appeal in Abuja. He also filed an injunction seeking to restrain the government from proceeding with the sale until the appeal is resolved.

In the eight-count charge marked CR/350/25, dated May 30, 2025, the EFCC alleges that Emefiele knowingly controlled property and funds suspected to be unlawfully acquired, in violation of Section 319(A) of the Penal Code.

The charges outline specific sums allegedly funneled through accounts linked to proxy companies. These include ₦167.3 million in 2019, ₦1.23 billion in 2020, ₦2.95 billion in 2021, and ₦1.98 billion in 2022—all allegedly domiciled in Kelvito Integrated Services’ accounts with Zenith Bank. Additional funds totaling ₦900 million and ₦600 million were also reportedly controlled through accounts held by Ifedigo Integrated Services in 2021 and 2022.

The EFCC further alleges that Emefiele forged a document in January 2021 titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited” to falsely indicate authorization by H and Y Business Global Limited.

The commission has named 24 witnesses, including representatives from Zenith Bank and Access Bank, to testify at the upcoming trial.

Emefiele, who served as CBN Governor from 2014 until his suspension and arrest by the Department of State Services in June 2023, resigned while in custody. He is already facing multiple criminal charges in both Abuja and Lagos High Courts.