Court Orders Interim Forfeiture of $1.4 Million Linked to Ex-CBN Governor Emefiele

Justice Ayokunle Faji of the Federal High Court in Lagos has ordered the interim forfeiture of $1,426,175.14 linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele to the federal government.
The order came after an ex parte motion by the Economic and Financial Crimes Commission (EFCC), represented by lawyer Bilikisu Buhari-Bala.
Buhari-Bala informed the court that the funds, located in Donatone Limited’s account number 2000000500 at a commercial bank, are suspected to be proceeds of unlawful activities. The court mandated the EFCC to publish the order in a national newspaper, allowing interested parties 14 days to contest the final forfeiture.
The motion was filed under Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act 2006 and Section 44 (2)(B) of the 1999 Constitution. The EFCC’s affidavit, deposed by investigator David Jayeoba, detailed the tracing of these funds to activities involving Emefiele and his associates.
The affidavit revealed that between 2021 and 2022, during a period of forex scarcity, Uzeobo Anthony and Adebanjo Olurotimi, directors of Donatone Limited, allegedly collected bribes on behalf of Emefiele. Several international entities paid significant sums into Donatone Limited’s account, with total deposits amounting to $26.552 million.
Investigations indicated that these funds were laundered through a foreign account in Mauritius before being returned to Nigeria.
The remaining balance in the account, now $1,426,175.14, is the amount the EFCC seeks to forfeit. The court has adjourned the case to June 25 for a hearing on the motion for the final forfeiture of the funds.
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