Court Orders Final Forfeiture Of $2.045m Cash, Properties Linked To Emefiele

A Federal High Court sitting in Lagos has ordered the former Central Bank of Nigeria, CBN, governor, Godwin Emefiele, to forfeit to the Federal Government, a cash sum of $2.045 million, eight choice properties in Lagos and Delta, as well as two share certificates of a firm.[/b]

Justice Deinde Dipeolu ordered the permanent forfeiture of the funds and the two share certificates belonging to Queensdorf Global Fund Limited Trust, stating that the former CBN governor or any interested party did not contest the initial interim forfeiture.

Additionally, the court forfeited seven prime landed properties, noting that Emefiele failed to demonstrate a connection between his lawful earnings from Zenith Bank and the CBN and the acquisition of these properties.

The court pointed out that Emefiele did not provide any documents or evidence to prove ownership of the properties.

However, Emefiele denied any links to the companies under whose names the properties were purchased, and those companies did not appear in court to claim them.

The EFCC listed the companies as Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited.

Justice Dipeolu concluded that there seems to be something suspicious regarding the acquisition of the properties that Emefiele and the companies are trying to conceal.

The judge further stated that the interested party failed to show any lawful interest in the properties, which were acquired with illegitimate earnings.

Consequently, he ordered the final forfeiture of all properties to the Federal Government of Nigeria, as they are reasonably suspected to have been acquired through unlawful activities.

The properties include two identical fully detached duplexes located at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos, and an undeveloped land measuring 1919.592sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos and a four-bedroom duplex at 12a Probyn Road, Ikoyi.

Others are an industrial complex under construction on 22 plots of land in Agbor, Delta State; 8 units of an undetached apartment on a plot measuring 2457.60sqm at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm at 2a Bank Road, Ikoyi, Lagos.

DAILY POST recalls that on August 15, 2024, the court had authorised the EFCC to temporarily take custody of the assets.

Source:- Dailypostng