A Federal High Court in Lagos has ordered the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to forfeit $2.045 million in cash, eight valuable properties in Lagos and Delta states, and two share certificates associated with Queensdorf Global Fund Limited Trust to the Federal Government.
Justice Deinde Dipeolu ruled for the permanent forfeiture of these assets, stating that neither Emefiele nor any interested party contested the earlier interim forfeiture. The court also ordered the forfeiture of seven prime landed properties, noting that Emefiele failed to prove a lawful connection between his earnings from Zenith Bank and the CBN and the acquisition of these properties.
The court highlighted that Emefiele did not provide any documentation to establish ownership of the properties. He has denied any connections to the companies that purchased the properties, and these companies did not appear in court to claim them.
The companies listed by the Economic and Financial Crimes Commission (EFCC) include Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited.
Justice Dipeolu expressed concerns about the legitimacy of the property acquisitions, stating that Emefiele and the involved companies appeared to be concealing information. He further noted that the interested parties failed to demonstrate any lawful interest in the properties, which were believed to have been acquired through illegal means.
As a result, the court ordered the final forfeiture of all the properties to the Federal Government of Nigeria. The forfeited assets include:
- Two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos
- An undeveloped land of 1,919.592 sqm on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos
- A bungalow at No. 65a Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos
- A four-bedroom duplex at 12a Probyn Road, Ikoyi
- An industrial complex under construction on 22 plots of land in Agbor, Delta State
- Eight units of an undetached apartment on a plot measuring 2,457.60 sqm at No. 8a Adekunle Lawal Road, Ikoyi
- A full duplex on a plot of land measuring 2,217.87 sqm at 2a Bank Road, Ikoyi, Lagos
This follows the court’s authorization on August 15, 2024, for the EFCC to take temporary custody of the assets.
