The Federal High Court in Lagos, on Wednesday, mandated the interim forfeiture of $1,426,175.14 linked to former Central Bank of Nigeria Governor, Godwin Emefiele.
Justice Ayokunle Faji directed the Economic and Financial Crimes Commission (EFCC) to publish the interim forfeiture order in a national newspaper, inviting anyone with interest in the funds to appear within 14 days to contest the permanent forfeiture to the Federal Government.
The court’s decision followed an ex parte application, FHC/L/CS/232/2024, moved by EFCC counsel Bilikisu Buhari-Bala. She argued that the funds were suspected proceeds of unlawful activities by Emefiele, who faces three criminal trials.
The EFCC investigator, David Jayeoba, revealed that intelligence led to the discovery of the funds in a bank account.
He alleged that during 2021-2022, amid forex scarcity, Uzeobo Anthony and Adebanjo Olurotimi, directors of Donatone Limited, collected bribes for Emefiele to facilitate forex approvals. Significant transactions, totaling $26,552,000, were traced to Donatone’s accounts on various dates in 2021 and 2022.
The affidavit detailed: “That Uzeobo Anthony and Adebanjo Olurotimi used the firm to collect bribes and gratification on behalf of Godwin Emefiele, to get approval for accessing forex. And that one of the entities (NP) paid a total sum of $26,552 million USD, into the account of the firm domiciled in Titan Trust account number 2000000500.”
Credited amounts included $6,450,000 on November 9, 2021; $6,050,000 on November 5, 2021; $5,400,000 on December 16, 2021; $652,000 on December 23, 2021; $3,000,000 on January 31, 2022; and $5,000,000 on September 21, 2022.
The funds were allegedly laundered through a foreign account in Mauritius before being repatriated to Nigeria.
Current investigations show the balance of $1,426,175.14, which the EFCC seeks to permanently forfeit as unlawful proceeds.
The account signatories are reportedly at large, attempting to dissipate the funds electronically.
“Based on our investigation findings, the funds sought to be forfeited are proceeds of unlawful activities of and his cronies. It is in the interest of justice to grant this application,” the investigator added.
Justice Faji granted the interim forfeiture order and adjourned the final forfeiture hearing to June 25.
This decision follows a recent order by Justice Yelim Bogoro of the same court on May 23, 2024, for the interim forfeiture of $4.7 million, N830 million, and properties linked to Emefiele.
Emefiele faces charges including procurement fraud, unauthorized naira note redesign, and forging ex-President Muhammadu Buhari’s signature for fund transfers from the CBN.
