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Home Business & Finance

Court Orders Forfeiture of Emefiele’s Assets

Nnaemeka OkwarabyNnaemeka Okwara
November 2, 2024
in Business & Finance
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Court Orders Forfeiture of Emefiele’s Assets
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On November 1, 2024, Justice Dehinde Dipeolu of the Federal High Court in Lagos ordered the final forfeiture to the Federal Government of Nigeria of $2.045 million and seven properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele

The Economic and Financial Crimes Commission (EFCC) started this case, claiming that these assets were obtained illegally. EFCC’s Senior Advocate of Nigeria (SAN), Rotimi Oyedepo, provided proof that suggested the assets were bought with money from Emefiele’s alleged illegal actions while he was in the banking industry.

The seized properties are:
  1. – Two identical duplexes located at 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos
  2. – A 1,919.592 square meter piece of land without any buildings on it at Oyinkan Abayomi Drive, Ikoyi, Lagos
  3. – A single-story house at 65A, Oyinkan Abayomi Drive, Ikoyi, Lagos
  4. – A four-bedroom duplex at 12A Probyn Road, Ikoyi, Lagos
  5. – A large industrial building still being built on 22 plots of land in Agbor, Delta State
  6. – Eight separate apartment units at No. 8A, Adekunle Lawal Road, Ikoyi, Lagos
  7. – A complete duplex on 2A Bank Road, Ikoyi, Lagos, covering 2,217.87 square meters

In his ruling, Justice Dipeolu pointed out that Emefiele couldn’t show a legal way he got the money for these properties.

He said, “It seems there’s something hidden about how Emefiele and the companies got these properties that they don’t want people to know.”

Tags: assetscourtCourt Orders Forfeiture of Emefiele's AssetsEmefielefederal characterForfeitureNews
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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