A final forfeiture ruling has been made on cash and properties worth $2.045 million linked to Emefiele. Discover the full scope of the court’s decision.
A Federal High Court in Lagos has mandated the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to surrender $2.045 million in cash, eight prime properties located in Lagos and Delta, along with two share certificates from a company to the Federal Government.
Justice Deinde Dipeolu ruled that the funds and two share certificates owned by Queensdorf Global Fund Limited Trust be permanently forfeited, noting that neither the former CBN governor nor any other interested parties challenged the initial interim forfeiture.
Furthermore, the court ordered the forfeiture of seven prime landed properties, pointing out that Emefiele was unable to establish a link between his legitimate income from Zenith Bank and the CBN and how he acquired these properties.
The court emphasized that Emefiele failed to present any documents or evidence demonstrating ownership of the properties.
Emefiele, however, denied any connection to the companies in whose names the properties were bought, and these companies did not appear in court to claim ownership.
The companies listed by the EFCC include 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 appears to be something suspicious about the property acquisitions, which Emefiele and the companies seem intent on hiding.
The judge also mentioned that the interested party did not demonstrate any legal interest in the properties, which were obtained using illegitimate income.
As a result, he mandated that all properties be permanently surrendered to the Federal Government of Nigeria, as they are reasonably suspected of being acquired through unlawful activities.
The properties consist of two identical, fully detached duplexes situated at No. 17b Hakeem Odumosu Street in Lekki Phase 1, Lagos; an undeveloped plot measuring 1919.592sqm with Survey Plan No. DS/LS/340 located on Oyinkan Abayomi Drive (formerly Queens Drive) in Ikoyi, Lagos; a bungalow positioned at No. 65a Oyinkan Abayomi Drive (previously known as Queens Drive), Ikoyi, Lagos; and a four-bedroom duplex found at 12a Probyn Road in Ikoyi.
Additional properties include an industrial complex currently being built on 22 plots of land in Agbor, Delta State; eight units of a semi-detached apartment situated on a plot measuring 2,457.60 square meters at No. 8a Adekunle Lawal Road, Ikoyi; and a complete duplex along with its appurtenances located on a plot measuring 2,217.87 square meters at 2a Bank Road, Ikoyi, Lagos.
OBASANJONEWS reports that on August 15, 2024, the court granted permission to the EFCC for temporary custody of the assets.
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