Justice Yellim Bogoro of the Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of $4,719,054 (Four Million, Seven Hundred and Nineteen Thousand, Fifty-Four Dollars) and ₦830,875,611 (Eight Hundred and Thirty Million, Eight Hundred and Seventy-Five Thousand, Six Hundred and Eleven Naira), along with multiple properties linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
The order was issued on Friday, February 21, 2025, following a motion filed by the Economic and Financial Crimes Commission (EFCC) seeking the permanent forfeiture of the assets. The EFCC, represented by counsel Bilikisu Buhari, argued that the funds and properties were proceeds of unlawful activities, citing Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution.
Forfeited Funds and Bank Accounts
The forfeited funds were traced to multiple accounts held in First Bank, Titan Bank, and Zenith Bank under various individuals and corporate entities, including:
- Omoile Anita Joy
- Deep Blue Energy Service Limited
- Exactquote Bureau De Change Ltd
- Lipam Investment Services Limited
- Tatler Services Limited
- Rosajul Global Resources Ltd
- TIL Communication Nigeria Ltd
Additionally, the court ordered the forfeiture of:
- €20,000 (Twenty Thousand Euros) and £1,999.50 (One Thousand, Nine Hundred and Ninety-Nine Pounds, Fifty Pence) held by Exactquote Bureau de Change
- $900,000 (Nine Hundred Thousand Dollars) investment linked to Anita Joy Omoile in Titan Bank
- $4,414,801.76 (Four Million, Four Hundred and Fourteen Thousand, Eight Hundred and One Dollars, Seventy-Six Cents) held by Deep Blue Energy Service Limited in First Bank
- ₦283,086,186.73 (Two Hundred and Eighty-Three Million, Eighty-Six Thousand, One Hundred and Eighty-Six Naira, Seventy-Three Kobo) traced to Lipam Investment Services
Forfeited Properties
The court also granted the final forfeiture of an extensive portfolio of real estate, including:
- 94-unit, 11-story buildings under construction at No. 2, Otunba Elegushi 2nd Avenue (formerly Club Road), Ikoyi, Lagos
- AM Plaza, an 11-story office space at 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos
- Imore Industrial Park 1, Esa Street, Imoore Land, purchased as Deep Blue Industrial Town, Oriade LCDA, Amuwo Odofin, Lagos
- Mitrewood and Tatler Warehouse (Furniture Plant at Bogije), Owolomi Village, Ibeju-Lekki, Lagos
- Two properties purchased from Chevron Nigeria (Closed PFA Fund, Block B Lot Twin Completed Property, Lakes Estate, Lekki, Lagos)
- A 1,038.069 sqm plot of land in Lekki Foreshore Estate Scheme, Eti-Osa, Lagos
- An estate at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, USA, owned by Lipam Investment Services
- Land at No. 1 Bunmi Owulude Street (Maruwa), Lekki Phase 1, Lagos
- A property at No. 8 Bayo Kuku Road, Ikoyi, Lagos
Legal Implications
This ruling marks a significant step in the ongoing legal proceedings against Emefiele, who has faced allegations of financial misconduct during his tenure at the Central Bank of Nigeria. The EFCC has reiterated its commitment to recovering illicitly acquired assets and ensuring that justice prevails.
With this judgment, all funds and properties are now permanently forfeited to the Federal Government of Nigeria.
