Court Orders Interim Forfeiture of Funds and Properties Worth $4.7 Million Linked to Former CBN Governor Godwin Emefiele

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

Justice Bogoro stated, "I find merit in the application and same hereby granted as prayed. The applicant should publish this order in any daily newspapers circulating all over the federation for anybody who is interested to show cause why the final order of forfeiture should not be made."

The funds forfeited to the Federal Government in the interim were reportedly housed in accounts operated by Omoile Anita Joy; Deep Blue Energy Service Limited; Exactquote Bureau De Change Ltd; Lipam Investment Services Limited; Tatler Services Limited; Rosajul Global Resources Ltd; and TIL Communication Nigeria Ltd.

Properties Forfeited
The properties linked to Emefiele and forfeited include:
- 94 units of an 11-storey building under construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, 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, Imoore Land purchased with (Deep Blue Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos).
- Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos.
- Two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B, Lot. Twin Completed Property Lakes Estate, Lekki, Lagos.
- One plot measuring 1,038.069 sqm at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa LGA.
- An estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services.
- A land at 1, Bunmi Owulude Street (Maruwa), Lekki Phase 1, Lagos.
- A property situated on 8, Bayo Kuku Road, Ikoyi, Lagos.

Legal Basis and Further Proceedings
The EFCC approached the court for an interim forfeiture of the monies and properties pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Section 44(2)(b) of the Constitution, and under the inherent jurisdiction of the court.

The EFCC's application sought:
1. An interim order forfeiting to the Federal Government of Nigeria the funds warehoused in the accounts detailed in Schedule 'A', which are reasonably suspected to be proceeds of unlawful activities.
2. An interim order forfeiting to the Federal Government of Nigeria the properties listed in Schedule 'B', which are also suspected to be proceeds of unlawful activities.
3. An order directing the publication of the interim order in any national newspaper, inviting anyone interested in the properties and funds to appear before the court to show cause within 14 days why the final order of forfeiture should not be made in favor of the Federal Government of Nigeria.

Justice Bogoro, after considering the submissions of the EFCC's counsel and reviewing the motion and supporting affidavit, granted the ex-parte motion. The case was adjourned to July 2, 2024, for the hearing of the motion for final forfeiture.