Court Orders Forfeiture of Emefiele’s Assets

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.”