Abuja High Court Orders Permanent Forfeiture of $1.4 Million Linked To Former CBN Governor Godwin Emefiele
A Federal High Court sitting in Lagos has ordered the permanent forfeiture of 1.4 million dollars linked to fraudulent activities involving , the former Governor of the Central Bank of Nigeria, Godwin Emefiele.
In the verdict, the Presiding Judge, Justice Ayokunle Faji confirmed that the amount was proven to be the result of illegal activities and ordered, the legal tender to be handed over to the federal government.
The verdict is in favour of the Economic and Financial Crimes Commission (EFCC), which had demonstrated the illegitimacy of the funds.
EFCC counsel, Bilkisu Bahri-Bala, told the court that over one point four million dollars discovered in an account belonging to Donatone Limited at Titan Trust Bank and investigations revealed that the money was tied to fraud.
EFCC through its counsel told the court that investigation revealed a network of fraud involving Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped conceal illicit proceeds.
Between 2021 and 2022, during Nigeria’s forex crisis, several international companies struggled to access foreign currency.
The EFCC accused Emefiele and his associates of accepting bribes and kickbacks from businesses seeking forex approvals.
The court on May 30, 2024 ordered an interim forfeiture, before confirming the permanent forfeiture of the funds.
