The Federal High Court in Lagos has ordered the permanent forfeiture of $4.7 million, ₦830 million, and several properties allegedly linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
In a ruling delivered on Friday, Justice Yellim Bogoro also ordered the final forfeiture of $900,000 worth of investments traced to Emefiele’s close relative, Anita Joy Omoile.
The court further directed the forfeiture of another $4.4 million in investments linked to Deep Blue Energy Services Ltd, as well as ₦283 million in Zenith Bank associated with Liman Investment Ltd. Other assets to be forfeited include €20,000, £1,999.50, and funds linked to Exactquote Bureau De Change, all connected to Omoile.
The forfeiture was granted at the instance of the Economic and Financial Crimes Commission (EFCC), which argued that the funds were proceeds of unlawful activities. The assets, held in accounts with First Bank, Zenith Bank, and Titan Bank, were associated with individuals and entities such as Omoile, Tatler Services Limited, Rosajul Global Resources Ltd, TIL Communication Nigeria Ltd, and Deep Blue Industrial Park Ltd.
Among the forfeited properties are 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos; AM Plaza, a commercial building in Lekki; and several other properties in Lekki, Ikoyi, and Imoore, Lagos. Additionally, a plot in Lekki Foreshore Estate and an estate in Texas, USA, owned by Lipam Investment Services, were also forfeited.
The EFCC had told the court that during his tenure from 2014 to 2023, Emefiele allegedly used close associates, including Omoile, to conceal and launder illicit funds in various accounts both within Nigeria and internationally. The Commission further accused Omoile of running an unlicensed bureau de change business, allegedly funded by illicit dollar inflows facilitated by Emefiele.
Omoile, who is reportedly on the run, allegedly coordinated payments into various accounts through her associates, including Esther Aderohunmu, Lucia Ewubor, and Calista Ogbonna.
Justice Bogoro, in her Friday judgment, dismissed an application seeking to prevent the forfeiture, ruling that all the properties and funds were proceeds of illegal activities and must be forfeited to the Federal Government.
“I find that the activities of the respondents were unlawful. There should be no issue with the funds immediately after Godwin Emefiele left office as CBN Governor,” the judge stated. “I hold that these are not legitimate business activities, and I find that all the monies and properties are finally forfeited to the Federal Government of Nigeria.”
