Justice Akintayo Aluko of the Federal High Court in Lagos has issued an order for the temporary forfeiture of $2.04 million and seven prime properties in Ikoyi, Lagos, allegedly linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, to the federal government.
Alongside the funds, the court also mandated the seizure of two share certificates associated with Queensdorf Global Fund Limited trust. The properties under the order include two detached duplexes at 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped plot on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi; a bungalow at 65a Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12a Probyn Road, Ikoyi; an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of undetached apartments on a plot at 8a Adekunle Lawal Road, Ikoyi; and a full duplex with appurtenances at 2a Bank Road, Ikoyi, Lagos.
The interim forfeiture order was granted on Wednesday following an application (marked FHC/L/MISC/500/24) by the Economic and Financial Crimes Commission (EFCC), presented by Rotimi Oyedepo (SAN). Oyedepo argued that the funds and properties were reasonably suspected to be proceeds of unlawful activities.
An affidavit from EFCC investigator Idi Musa supported the motion, detailing that he was part of the team investigating a substantial fraud case involving senior CBN officials, including Emefiele. The investigation revealed that large sums of money were fraudulently converted for personal use through various schemes.
Musa stated, “During our investigation into the alleged monumental fraud carried out by the immediate-past Governor of the Central Bank of Nigeria (CBN) and his associates, we traced and identified several properties reasonably suspected to have been acquired with proceeds of unlawful activities.”
The affidavit further disclosed that Emefiele was involved in negotiating kickbacks in exchange for the allocation of foreign exchange to companies in need of it for their legitimate businesses. The investigation revealed that Ifeanyi Omeke, a Deputy General Manager and Head of Litigation at Zenith Bank Plc, acted as Emefiele’s intermediary, managing the acquisition and documentation of several high-value properties in Lagos.
During a search of Omeke’s office, EFCC operatives recovered $2.04 million and share certificates, which are now also subject to forfeiture. The investigation indicated that these funds and properties were not acquired through legitimate earnings but were rather proceeds of unlawful activities.
Justice Aluko, after reviewing the application, granted the interim forfeiture order and directed the EFCC to publish the order in a national newspaper. This publication aims to notify anyone with an interest in the properties to come forward within 14 days to explain why a final forfeiture order should not be issued in favor of the federal government. The case has been adjourned until September 5 for further hearing.
