The Federal Government has been ordered to permanently forfeit properties valued at about N11.14 billion and N1.04 billion that belonged to Godwin Emefiele, the former governor of the Central Bank of Nigeria, by the Federal High Court in Lagos.
After reviewing a motion submitted on Friday by the Economic and Financial Crimes Commission, which was represented by attorney Chineye Okezie, Justice Chukwujekwu Aneke delivered the final forfeiture decision.
The judge said, “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”
The property included shops and apartments at Cadastral Zone Maitama and Wuse.
Aneke said, “A final forfeiture order of this Honourable Court is, hereby, made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”
The property included lands and apartments which were paid for on behalf of Oluwaseun at a total value of N1.04 billion.
Obayemi Oluwaseun Teben and Akomolafe Adebayo working with Olubunmi Makinde “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks, according to the affidavit.
“That OLUBUNMI MAKINDE is the link between OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO and the various companies applying for the purchase of foreign exchange.
“That OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO as staff of the Central Bank of Nigeria have access to the bidding processes and bidding Data of companies who have applied for the approval of form Ms to the CBN through their various commercial banks.”
On June 5, 2024, Aneke granted an interim forfeiture in response to a motion made by Rotimi Oyedepo, counsel for the Federal Federal Police Commission (EFCC). Oyedepo informed the court that Emefiele was suspected of buying the choice properties through a proxy using the proceeds of fraud, and he named two current and one former CBN staff as Emefiele’s accomplices in the alleged fraud. The properties are mostly situated in affluent areas of the Federal Capital Territory, Abuja.
In order to provide interested parties an opportunity to provide justification for why the final forfeiture order should not be issued, the judge ordered the EFCC to publish the decision in a national newspaper.
The motion for final forfeiture was then set for hearing by the judge.
No one showed up in court on June 21 to challenge the temporary ruling. Chineye Okezie proceeded with her motion for permanent forfeiture as a result.
Judge Aneke approved the application for permanent forfeiture after looking over a 41-paragraph statement by EFCC Investigating Officer Michael John Idoko, 19 attached exhibits, and a signed letter from Okezie.
In order to provide interested parties an opportunity to provide justification for why the final forfeiture order should not be issued, the judge ordered the EFCC to publish the decision in a national newspaper.
The motion for final forfeiture was then set for hearing by the judge.
No one showed up in court on June 21 to challenge the temporary ruling. Chineye Okezie proceeded with her motion for permanent forfeiture as a result.
Judge Aneke approved the application for permanent forfeiture after looking over a 41-paragraph statement by EFCC Investigating Officer Michael John Idoko, 19 attached exhibits, and a signed letter from Okezie.
The properties were included in schedules A and B by the EFCC.
