Court orders the forfeiture of 11.4b properties link to Emefiele

The Federal High Court sitting in Lagos on Wednesday granted an order of interim forfeiture of properties valued at N11,140,000,000.00 linked to the embattled former CBN governor, Godwin Emefiele.

Justice Chukwujekwu Aneke made the order sequel to a motion ex parte filed and argued by the counsel to the EFCC, Senior Advocate of Nigeria, Rotimi Oyedepo, who led Bilkisu Buhari-Bala and Chineye Okezie in the proceedings. The court ordered the interim forfeiture of the properties to the Federal Government.

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

The EFCC also named three CBN Staff, Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde as Emefiele’s accomplices who used their positions and influence to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.