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HomeNewsFederal High Court Orders Permanent Forfeiture of Properties Worth N12.18 Billion Linked...

Federal High Court Orders Permanent Forfeiture of Properties Worth N12.18 Billion Linked to Ex-CBN Governor, Godwin Emefiele.

The Federal High Court in Lagos has ordered the permanent forfeiture of properties worth over N11.14 billion and N1.04 billion linked to Godwin Emefiele, former Governor of the Central Bank of Nigeria.

Presidiing Justice, Chukwujekwu Aneke issued the final forfeiture order after considering a motion filed by the Economic and Financial Crimes Commission (EFCC).

The judge said, “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”

These properties include shops and apartments in upscale areas of Abuja.

Aneke also said, “A final forfeiture order of this Honourable Court is, hereby, made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”

The properties were paid for on behalf of Oluwaseun at a total value of N1.04 billion. Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde allegedly “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks, according to the affidavit.

“That OLUBUNMI MAKINDE is the link between OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO and the various companies applying for the purchase of foreign exchange.

“That OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO as staff of the Central Bank of Nigeria have access to the bidding processes and bidding Data of companies who have applied for the approval of form Ms to the CBN through their various commercial banks.”

The EFCC identified two current and one former CBN staff as Emefiele’s accomplices in the alleged fraud.

The properties are primarily located in upscale areas of the Federal Capital Territory, Abuja.

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