A court has ordered the forfeiture of $2.4 million and assets in Lagos and Delta linked to former CBN Governor, Godwin Emefiele.
On Thursday, the Federal High Court in Lagos directed the temporary seizure of seven properties and $2.04m linked to Mr. Godwin Emefiele – former Governor of Nigeria’s Central Bank.
Upon an application by the Economic and Financial Crimes Commission, which is currently probing purported fraudulent activities connected to Emefiele, Justice Akintayo Aluko issued a directive.
Prime real estate located in Lekki and Ikoyi, Lagos as well as an extensive industrial complex currently being built in Agbor, Delta State are among the properties under discussion.
According to Justice Aluko, the temporary seizure of assets was essential in order to hinder any possible dispersal of said assets believed to be acquired through illegal means.
He said that the properties mentioned in this application are suspected to have been obtained through illegal activities.
Included in this list of properties are two duplexes, both fully detached and located at No. 17b Hakeem Odumosu Street in Lekki Phase 1, Lagos; an undeveloped land measuring 1,919.592 sqm on Oyinkan Abayomi Drive (formerly known as Queens Drive) situated within Ikoyi; a bungalow found at No.65a along the same road- Oyinkan Abayomi Drive in Ikoyi; a four-bedroom duplex standing elegantly on Probyn Road also located within Ikoyi; an expansive industrial complex spanning twenty-two plots sited in Agbor which is Delta State’s capital city ;eight apartments fastidiously designed can be accessed via Adekunle Lawal Road based again inside central location of luxury living -Ikoyi and finally but not least( important), one whole full duplex tucked away by Bank street just previously explained to be stationed quite comfortably In the high brow neighborhood welcoming his royal majesty from far yonder!
Along with the properties, the court mandated seizing of two share certificates belonging to Queensdorf Global Fund Limited Trust. The said company is purportedly associated with Emefiele.
Rotimi Oyedepo, the Senior Advocate of Nigeria representing EFCC in suit number FHC/L/MISC/500/24, contended that fraudulent activities were involved in acquiring the assets.
According to Oyedepo, “There is justifiable suspicion that the money and properties at hand were acquired through illegal means. Therefore, we implore the court to approve our request in order to halt any additional dispersal of these assets.”
According to Oyedepo, the interim forfeiture order was granted by the court in accordance with Section 17 of Advance Fee Fraud and Other Fraud Related Offences Act No. 14, 2006 as well as under Section 44 (2)(b) of the Constitution of Nigeria from year nineteen ninety-nine.
According to information in court records, the EFCC’s inquiry disclosed that Emefiele purportedly bargained for kickbacks as a condition for dispensing foreign exchange quotas to firms requiring such currency legitimately.
In his deposition, Idi Musa, an investigator working with the EFCC alleged that “Emefiele is connected to a network of Shell companies which acquired these assets solely for money laundering purposes.”
During the searches, Musa confirmed that significant evidence like title documents and company seals had been recovered by the EFCC.
In 2018, an individual named Olusola Bodunde purchased a plot of land situated on Hakeem Odumosu Street in Lagos’ Lekki Phase 1 area. Collaborating with Idowu Sharafa, they embarked on the development of three separate units consisting of five-bedroom duplexes each equipped with attached BQs.
In 2020, Omeke approached Bodunde and paid a total of N460,000,000 for two out of three developed duplexes that were purchased in the name of Amrash Ventures Limited. The payment was made on behalf and according to instructions from Godwin Emefiele.
Mr. Collins Ifeanyi Omeke’s office yielded a recovery of both $2,045,000m and the shares certificate.
After conducting an investigation, it was revealed that Mr. Omeke had procured and obtained the necessary title documents for multiple properties in representation of Mr. Emefiele’s interests.
The majority of illicitly obtained funds were used to purchase these assets, which are currently being pursued for confiscation by the Federal Government.
Following the approval of an interim forfeiture order, Justice Aluko instructed that the EFCC publish said ruling in a prominent national publication and assigned 14 days for any parties with vested interest in both funds and assets to attend court proceedings. During this time, they must provide sufficient reason as to why these items should not be permanently seized by the Federal Government.
Further hearing for the case has been scheduled on September 5, 2024 after adjournment.
Emefiele, who is facing various corruption charges, has been subjected to a number of forfeiture orders by the anti-graft agency. The most recent was issued on Thursday.
The embattled former apex bank head was linked with $1.4m, which the Federal High Court in Lagos ruled to be forfeited on May 29th.
In May 23 of the same year, Emefiele’s properties were linked to $4.7m and N830m that had forfeiture orders obtained by EFCC earlier.
Emefiele faced a permanent forfeiture order on select properties worth N12.18bn as well.
