The Federal High Court in Lagos has ordered the final forfeiture of $2.045 million, seven high-value properties, and share certificates associated with former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Justice Deinde Dipeolu ruled on Friday that these assets, which include two share certificates of Queensdorf Global Fund Limited Trust, would be permanently forfeited to the federal government, citing the absence of a contest from Emefiele or any interested parties following an initial interim forfeiture order.
Justice Dipeolu noted that Emefiele failed to substantiate that the assets were purchased with his lawful earnings from Zenith Bank or the CBN. Despite Emefiele’s claims of no connection with the companies tied to the properties—Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited—the companies did not appear in court to claim ownership.
Among the properties forfeited are:
– Two fully detached duplexes on Hakeem Odumosu Street, Lekki Phase 1, Lagos
– A 1,919.592 sqm undeveloped plot on Oyinkan Abayomi Drive, Ikoyi, Lagos
– A bungalow at 65a Oyinkan Abayomi Drive, Ikoyi
– A four-bedroom duplex on Probyn Road, Ikoyi
– An industrial complex on 22 plots of land in Agbor, Delta State
– Eight units of apartments on Adekunle Lawal Road, Ikoyi
– A full duplex with appurtenances on Bank Road, Ikoyi
Previously, on August 15, 2024, the court granted the Economic and Financial Crimes Commission (EFCC) permission to take temporary custody of the assets based on suspicions of their being proceeds from illicit activities. However, Emefiele’s legal counsel, Olalekan Ojo (SAN), had sought to delay the final forfeiture order, which the court ultimately granted in favor of the EFCC.
