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Court Orders Forfeiture Of N11.14bn Property Linked To Emefiele



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The Federal High Court in Lagos on Wednesday granted the Federal Government an order of interim forfeiture of property valued at N11,140,000,000.00 linked to the embattled former governor, Central Bank of Nigeria, Godwin Emefiele.

The presiding judge, Justice Chukwujekwu Aneke, made the order following a motion filed and argued by the counsel for the Economic and Financial Crimes Commission, Rotimi Oyedepo (SAN).

Oyedepo informed the court that Emefiele was suspected of having bought the choice property, mostly located in highbrow parts of the Federal Capital Territory, Abuja, by proxy, with the proceeds of fraud.

The EFCC’s counsel said the anti-graft agency identified a former CBN staff member and two current ones as Emefiele’s accomplices in the alleged fraud.

Justice Aneke also ordered the EFCC to publish the order in the ThisDay newspaper so that any interested party could show cause why the final order of forfeiture should not be made.

The judge adjourned till June 21 to hear the motion for final forfeiture.

Justice Ayokunle Faji directed the Economic and Financial Crimes Commission to publish the interim forfeiture order in a national newspaper.

The judge said anyone interested in the funds must appear before him within 14 days to show cause why the funds should not be permanently forfeited to the Federal Government.

The court order followed an ex parte application marked FHC/L/CS/232/2024, moved by EFCC counsel, Bilikisu Buhari-Bala.

Buhari-Bala told Justice Faji that the funds were reasonably suspected to be proceeds of unlawful activities of Emefiele, who is currently facing three criminal trials.

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