A federal high court in Lagos has ruled for the permanent forfeiture of $2.045 million, multiple luxury properties, and two share certificates linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN). Presiding judge Deinde Dipeolu delivered the ruling on Friday, ordering the assets’ final forfeiture to the Nigerian government.
The case stemmed from an interim order issued on August 15 by vacation judge Akintayo Aluko after the Economic and Financial Crimes Commission (EFCC), represented by counsel Rotimi Oyedepo, filed a petition alleging the assets were likely proceeds of unlawful activities. The EFCC subsequently published the order, inviting any interested parties to contest the forfeiture. At the October 11 hearing, Oyedepo moved for the final forfeiture of the assets, which had gone uncontested.
In his decision, Judge Dipeolu stated that Emefiele failed to demonstrate any lawful income from his roles at Zenith Bank or the CBN to justify acquiring the properties. He added, “The conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies does not want to come to light.” The properties forfeited include high-end real estate assets such as Two detached duplexes on Hakeem Odumosu Street, Lekki Phase 1, Lagos, An undeveloped parcel on Oyinkan Abayomi Drive, Ikoyi, Lagos, A bungalow and a four-bedroom duplex in Ikoyi, An industrial complex under construction on 22 plot.