Court orders final forfeiture of $4.7m, N830m, properties linked to Emefiele

Justice Yellim Bogoro of the Federal High Court in Lagos has ordered the final forfeiture of $4.7 million, N830 million, and multiple properties linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

Delivering judgment on Friday, Justice Bogoro granted the forfeiture request filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Buhari-Bala.

He ruled that the properties and funds were proceeds of unlawful activities and must be forfeited to the Federal Government of Nigeria.

The judge stated: “I find that the respondents’ activities were unlawful. Why should they have a dollar shortage immediately after Godwin Emefiele left the CBN as governor, and salaries could not be paid?

“I hold that these are not legitimate business activities.

“Anita Omoile is a close associate of the former CBN governor, Godwin Emefiele, who was given undue influence to unlawfully divert dollars from the CBN.

“Consequently, I rule that all the monies and properties listed in the schedule are hereby forfeited to the Federal Government of Nigeria.”

The EFCC, through its counsel Rotimi Oyedepo (SAN), had cited Section 17 of the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution in its application for an interim forfeiture, arguing that the funds and properties were suspected proceeds of unlawful activities.

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Justice Bogoro, finding merit in the EFCC’s application, initially ordered an interim forfeiture and mandated the publication of the order in a national newspaper.

Following the defendants’ failure to prove legitimate ownership of the funds, the judge subsequently made the forfeiture order permanent.

Today’s ruling further underscores the EFCC’s commendable asset recovery and anti-corruption efforts under its Executive Chairman, Mr. Ola Olukoyede.

The forfeited funds, previously held in accounts at First Bank, Titan Bank, and Zenith Bank, were managed by individuals and entities including 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 affected by the forfeiture include:

• 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos.
• AM Plaza, an 11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.
• Imore Industrial Park 1 on Esa Street, Imoore Land, Amuwo Odofin LGA, Lagos.
• Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro, Owolomi Village, Ibeju-Lekki LGA, Lagos.
• Two properties purchased from Chevron Nigeria, located in Lakes Estate, Lekki, Lagos.
• A plot at Lekki Foreshore Estate Scheme, Foreshore Estate, Eti-Osa LGA, Lagos.
• An estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services.
• Land at 1 Bunmi Owulude Street, Lekki Phase 1, Lagos.
• A property at 8 Bayo Kuku Road, Ikoyi, Lagos.