Crime

See The Huge worth of Properties that Emefiele will Forfeit to Nigerian Government

Published by Tope Fakinlede on June 22nd, 2024.

See The Huge worth of Properties that Emefiele will Forfeit to Nigerian Government

Godwin Emefiele

A Federal High Court in Lagos has mandated the permanent forfeiture of properties valued at over N11.14 billion and N1.04 billion, belonging to former Central Bank of Nigeria governor Godwin Emefiele, to the Federal Government.

Justice Chukwujekwu Aneke issued the final forfeiture order on Friday, following a motion filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel Chineye Okezie.

According to The Punch, Justice Aneke stated: “After carefully considering the application and the counsel’s submission, it is hereby ordered that a final forfeiture order of this honorable court is made, forfeiting to the Federal Government of Nigeria the properties listed in Schedule A, which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”

The forfeited properties include shops and apartments located in Cadastral Zone Maitama and Wuse.

The judge also ordered the forfeiture of additional properties listed in Schedule B, which were found to have been acquired with proceeds from unlawful activities, amounting to N1.04 billion.

The court affidavit revealed that Obayemi Oluwaseun Teben and Akomolafe Adebayo, in collaboration with Olubunmi Makinde, used their positions and influence as CBN staff to secure retail and special allocations of foreign exchange to various companies in exchange for kickbacks.