Court Orders Forfeiture Of N11.14bn Choice Properties Linked To Emefiele


The Federal High Court sitting in Lagos on Wednesday granted an order of interim forfeiture of properties valued at N11,140,000,000.00 linked to the embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

Justice Chukwujekwu Aneke made the order sequel to a motion ex parte filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Senior Advocate of Nigeria, Rotimi Oyedepo, who led Bilkisu Buhari-Bala and Chineye Okezie in the proceedings.

The court ordered the interim forfeiture of the properties to the Federal Government.

Oyedepo informed the court that Emefiele was suspected of having bought the choice properties by proxy, with the proceeds of fraud. The properties are mostly located in highbrow parts of the Federal Capital Territory, Abuja.

The EFCC also named three CBN Staff, Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde as Emefiele’s accomplices who used their positions and influence to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.

Justice Aneke has ordered the EFCC to publish the order in the newspaper for any interested party to show cause why the final order of forfeiture should not be made.

The judge adjourned till the 21st of June for the hearing of the motion for final forfeiture.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept

Dental Implant