News
Court Orders Final Forfeiture Of Emefiele’s $2 Million, Properties Over Ownership Dispute
The Federal High Court in Lagos on Friday ordered the final forfeiture of $2.045 million, seven premium properties, and share certificates linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.
Justice Deinde Dipeolu issued the ruling after no opposition was presented by Emefiele or any other claimants following the court’s initial interim forfeiture order.
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EKO HOT BLOG reports that the Economic and Financial Crimes Commission (EFCC) argued that the assets, including two share certificates from Queensdorf Global Fund Limited Trust and seven high-value properties, were not linked to any verifiable lawful income from Emefiele’s tenure at Zenith Bank or the CBN.
According to Justice Dipeolu, Emefiele failed to provide documentation or any legitimate evidence to substantiate his ownership of these assets.
Emefiele, who has previously denied any association with the companies implicated in the acquisition of these properties, did not appear in court to defend his ownership claims.
Furthermore, none of the companies, which include Amrash Ventures Limited, Modern Hotels Limited, and SDEM Erectors Nigeria Limited, challenged the forfeiture.
BREAKING: Court Orders Final Forfeiture Of Emefiele’s $2 Million, Properties Over Ownership Dispute
Justice Dipeolu stated, “the conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies do not want to come to light.”
The judge added that Emefiele had failed to demonstrate any legitimate interest in te properties.
The properties forfeited include two identical duplexes on Hakeem Odumosu Street, Lekki, a bungalow and a four-bedroom duplex in Ikoyi, an industrial complex in Agbor, Delta State, an eight-unit apartment in Ikoyi, and a duplex on Bank Road, Ikoyi.
The court’s decision followed an August 2024 authorization granting the EFCC temporary custody, which has now been made final.
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