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HomeCrime and SecurityCourt Orders Final Forfeiture of N12.18bn Properties Linked to Former CBN Governor

Court Orders Final Forfeiture of N12.18bn Properties Linked to Former CBN Governor

A federal high court in Lagos has ordered the final forfeiture of properties valued at N12.18 billion, linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN).

The Economic and Financial Crimes Commission (EFCC) had filed a motion for this action.

Judge Chukwujekwu Aneke had previously ordered an interim forfeiture of the properties on June 5. These properties are situated in affluent areas of the federal capital territory (FCT).

The court instructed the EFCC to publish the forfeiture order in a national newspaper to allow any interested parties to challenge the final order. The properties are listed under two schedules — A and B.

In his ruling, Judge Aneke stated: “After careful consideration of the application and the counsel’s submission, it is hereby ordered that a final forfeiture order 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.”

He continued: “A final forfeiture order is also made for the properties listed in Schedule B, which were traced to have been acquired with proceeds of unlawful activities.”

Emefiele is currently facing multiple charges of fraud and abuse of office.

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