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Emefiele: Court Orders Interim Forfeiture Of Properties Linked To Former CBN Governor

It was alleged that Emefiele purchased the properties with the proceeds of corruption



Emefiele: Court Orders Interim Forfeiture Of Properties Linked To Former CBN Governor

The Federal High Court in Lagos has ordered the interim forfeiture of properties worth N11.4 billion connected to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

This decision was handed down on Wednesday by Justice Chukwujekwu Aneke following a motion ex parte presented by the Economic and Financial Crimes Commission (EFCC).

The EFCC, represented by Senior Advocate of Nigeria Rotimi Oyedepo, alongside Bilkisu Buhari-Bala and Chineye Okezie, argued that Emefiele had acquired these high-value properties in Abuja through fraudulent means and proxies.

The properties are alleged to have been purchased with the proceeds of corruption.

Additionally, the EFCC implicated three CBN staff members—Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde—as accomplices. These individuals allegedly exploited their positions to facilitate foreign exchange allocations to various companies in return for kickbacks.

Justice Aneke instructed the EFCC to publish the interim forfeiture order in a national newspaper, inviting any interested parties to come forward and contest the final forfeiture.

The hearing for the motion on final forfeiture has been scheduled for June 21.

In May, News About Nigeria reported that Justice Maryann Anenih of the High Court of the Federal Capital Territory (FCT), Abuja, granted the embattled former CBN boss bail after he pleaded his innocence to the allegation that he approved the printing of N684.5 million at the rate of N18.96 billion.

The Economic and Financial Crimes Commission (EFCC) had accused Emefiele of unlawfully approving the withdrawal of about N124.8 billion from the consolidated revenue fund.

Following his plea of innocence, Emefiele, through his team of lawyers led by Mahmud Magaji (SAN), prayed to the court to allow him to go home on bail, pending the determination of the case against him.

Magaji, while praying to the court, assured that his client (Emefiele) would always be available to attend his trial if granted bail.

Deciding on the matter, Justice Anenih granted the embattled former CBN governor bail to the tune of N300 million, with two sureties in the same sum.

According to the court, the sureties must be owners of landed properties within the Maitama district of Abuja and must be residents of Nigeria.

The court ordered Emefiele to surrender his international passport, warning that he must not travel out of Nigeria without permission.