A federal high court in Lagos has set November 1, 2024, as the date to rule on the Economic and Financial Crimes Commission’s (EFCC) application for the final forfeiture of money and properties linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
The EFCC is seeking the forfeiture of $2.045 million, seven valuable landed properties, and shares. The court had previously granted the commission interim custody of these assets and ordered the publication of the forfeiture notice, allowing any interested parties to contest the final forfeiture.
At a hearing on October 11, EFCC counsel Rotimi Oyedepo pushed for the final forfeiture of the funds and share certificates, noting that there had been no objections from the interested parties. Oyedepo urged the court to adopt his written address submitted in August and order the permanent transfer of the assets to the federal government.
Emefiele’s lawyer, Olalekan Ojo, requested that the court reject the EFCC’s application. After hearing arguments from both sides, the presiding judge, Deinde Dipeolu, postponed the ruling until November 1.
In addition to the forfeiture decision, the court will also rule on a separate application filed by Emefiele, challenging the court’s jurisdiction to hear the forfeiture proceedings.
This case follows an interim forfeiture order issued on August 15 by a vacation judge, Akintayo Aluko, after an EFCC application. The EFCC argues that the assets in question are suspected to be proceeds of unlawful activities.