Legal Nigeria

Court orders interim forfeiture of N830m, $4.7m, properties linked to Emefiele.

A Federal High Court siting in Lagos has granted an order of interim forfeiture of $4,719,054, N830,875,611, and other assets linked to the embattled former Governor of Central Bank of Nigeria (CBN) Godwin Emefiele.

The Economic and Financial Crimes Commission (EFCC) had filed an application before the court for the interim forfeitures as the property were suspected to be proceeds of unlawful activities.

The EFCC’s application includes “An interim order forfeiting to the Federal Government of Nigeria the funds warehoused in the accounts of particularized in Schedule ‘A’ which funds are reasonably suspected to be proceeds of unlawful activities.

“An interim order forfeiting to the Federal Government of Nigeria properties provided in Schedule ‘B’ filed before the court which are proceeds of unlawful activities.

“An order directing the publication in any national newspaper, the interim order under reliefs 1-2 above, for anyone interested in the properties and funds sought to be forfeited to appear before the court to show cause within 14 days why the final order of forfeiture of the said properties and funds should not be made in favour of the Federal Government of Nigeria.”

The presiding Judge, Justice Yellim Bogoro, granted EFCC’s prayers on the forfeiture.

Thereafter, the suit was adjourned to July 2, 2024 for the application for final forfeiture.

The funds that have been forfeited in the interim to the federal government were alleged to be domiciled in banks being operated by Omoile Anita Joy; Deep Blue Energy Service Limited; Exact quote Bureau De Change Ltd; Lipam Investment Services Limited; Tatler Services Limited; Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.

The properties include 94 Units of an 11-floor building under Construction at 2, Otunba Elegushi 2nd Avenue Road, Ikoyi, Lagos; AM Plaza, 11-floor office space, situate on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, block B lot twin completed property in Lakes Estate. Lekki, Lagos.

‘Others are one plot measuring 1,038.069 sqm, at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; Estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, Owned by Lipam investment Services; a Land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos and a property situate on 8, Bayo Kuku Road, lkoyi, Lagos.

Emefiele is currently facing multiple trials at both Abuja and Lagos courts over alleged abuse of office, unauthorized printing of the naira notes and procurement fraud.

Source: PM News