A Federal High Court in Lagos has ordered the final forfeiture of $2.045 million, several properties, and shares linked to former Central Bank of Nigeria Governor Godwin Emefiele. The ruling, delivered by Justice Deinde Dipeolu on November 1, 2024, concluded that Emefiele failed to prove any lawful connection to the assets, which were deemed proceeds of crime.
The court seized seven properties located in the Ikoyi area of Lagos, along with two share certificates from Queensdorf Global Fund Limited Trust. The judge noted that Emefiele could not demonstrate a legitimate source for the funds or properties and that the companies involved had not appeared to contest the forfeiture.
The properties included multiple duplexes and plots of land in high-value areas, with the court highlighting a lack of evidence linking Emefiele to their lawful acquisition. The Economic and Financial Crimes Commission (EFCC) was previously authorized to temporarily hold these assets while the case proceeded.
Emefiele’s legal counsel argued against the forfeiture, claiming sufficient evidence was provided to counter the EFCC’s claims. However, the court found that the evidence presented did not establish a legitimate interest in the properties.
