The Federal High Court in Lagos issued a ruling on Friday for the permanent forfeiture of properties valued at over N11.14 billion and an additional N1.04 billion linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.
The order of permanent forfeiture was made by Justice Chukwujekwu Aneke after considering an application presented and argued by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie.
On June 5, 2024, the judge had granted the anti-graft agency’s motion, presented and argued by Senior Advocate of Nigeria, Mr. Rotimi Oyedepo, for the temporary forfeiture of the properties.
Oyedepo informed the court that Emefiele was suspected of acquiring the properties through proxies, using proceeds from fraudulent activities.
The EFCC identified two current and one former CBN staff as Emefiele’s alleged accomplices in the fraud.
According to the affidavit supporting the application, the trio includes Obayemi Oluwaseun Teben and Akomolafe Adebayo, who are currently working with Olubunmi Makinde, a former CBN staff, along with others.
The properties are primarily situated in upscale areas of the Federal Capital Territory (FCT), Abuja.
Justice Aneke directed the EFCC to publish the interim forfeiture order in a national newspaper to allow any interested party to contest the final forfeiture order.
The judge then adjourned for a hearing on the application for final forfeiture.
When court proceedings resumed on June 21, no party appeared to contest the judge’s interim order, prompting Chineye Okezie to proceed with her application for permanent forfeiture.
After reviewing a 41-paragraph affidavit sworn by EFCC Investigating Officer Michael John Idoko, along with 19 exhibits and a written address submitted by Okezie, Justice Aneke granted the application.
The EFCC had listed the properties in two schedules, A and B.
The judge said: “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”
They include shops and apartments at Cadastral Zone Maitama and Wuse.
For Schedule B, Justice Aneke added: “That a final forfeiture order of this Honourable Court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”
The properties include lands and apartments which were paid for on behalf of Oluwaseun at a total value of N1.04 billion.
According to the affidavit, Obayemi Oluwaseun Teben and Akomolafe Adebayo working with Olubunmi Makinde “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks.
“That Olubunmi Makinde is the link between Obayemi Oluwaseun Teben and Akomolafe Adebayo and the various companies applying for the purchase of foreign exchange.
“That Obayemi Oluwaseun Teben and Akomolafe Adebayo as staffs of the Central Bank of Nigeria has access to the bidding processes and bidding Data of companies who has applied for the approval of form Ms to the CBN through their various commercial banks.”