Lagos, Nigeria — A Federal High Court in Lagos has issued a final forfeiture order on properties and financial assets linked to Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN).
The ruling, delivered by Justice Yellim Bogoro on Friday, followed a case filed by the Economic and Financial Crimes Commission (EFCC) against Emefiele.
As part of the judgment, the court also mandated the forfeiture of investments worth $900,000 traced to Anita Joy Omoile, a close associate of Emefiele, whom the EFCC accused of involvement in financial transactions under investigation.
The total assets seized include $4.7 million, ₦830 million, and various other valuable properties. Justice Bogoro ruled that these were proceeds of illicit activities and should be transferred to the Nigerian government.
Additionally, the court ordered the forfeiture of $4.4 million in investments linked to Deep Blue Energy Services Ltd, a company under EFCC investigation. A further ₦283 million held in a Zenith Bank account under Liman Investment Ltd was also seized.
Emefiele has been facing multiple legal battles with the EFCC. In December 2024, court filings alleged that he funneled ₦2.2 billion through three companies which are Ice Frozen Food & Ventures, Kelvito Integrated Service, and Ifeadigo Integrated Services, to acquire an extensive estate in Apo, Abuja, consisting of 753 duplexes. This property has since been forfeited to the Nigerian government.
The legal troubles deepened in January 2025, when Emefiele was arraigned before the High Court of the Federal Capital Territory, Abuja, on 20 charges related to corruption and forgery. Among the allegations, the EFCC accused him of fraudulently obtaining $6.2 million by impersonating the Secretary to the Government of the Federation.
Further accusations included awarding a contract worth ₦99.8 million for the renovation of his residence to a company allegedly linked to his wife and brother-in-law, raising concerns about abuse of office and financial misconduct.
The ruling reinforces the EFCC’s ongoing efforts to recover illicitly acquired assets and hold public officials accountable for financial irregularities.
By Taiwo Olatinwo | February 21, 2025
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