Lagos: A Federal High Court in Lagos has ordered the final forfeiture of $1.43 million linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The ruling was delivered by Justice Ayokunle Faji, who declared that the sum was the proceeds of unlawful activities and should be forfeited to the Federal Government.
According to News Agency of Nigeria, the forfeiture suit was initiated by the Economic and Financial Crimes Commission (EFCC). The court concluded that the anti-graft agency successfully demonstrated the unlawfulness of the funds in question. Mrs. Bilkisu Bahri-Bala, counsel for the EFCC, informed the court that the money was deposited in an account belonging to Donatone Ltd at Titan Trust Bank. She argued that the funds were confirmed to be derived from unlawful activities.
An affidavit by David Jayeoba, an EFCC investigating officer, revealed that the commission acted on an intelligence report which led to the filing of the forfeiture case. He stated that the investigation uncovered a substantial amount of money concealed in the account of Donatone Ltd, which was associated with Emefiele and his associates.
Jayeoba further asserted that directors were allegedly engaged by Emefiele to hide, retain, and disguise the funds, which were the proceeds of unlawful activities. Justice Faji had previously issued an interim forfeiture order on May 30, 2024, which has now been made final.