Justice Yellim Bogoro of the Federal High Court in Lagos on Friday ordered the final forfeiture of $4.7 million, N830 million, and multiple properties linked to former Central Bank of Nigeria (CBN) governor Godwin Emefiele.
The judge, who had earlier dismissed an application brought by an interested party seeking to halt the judgment, granted the final forfeiture application filed by the Economic and Financial Crimes Commission’s (EFCC) counsel, Bilkisu Buhari-Bala.
The forfeited funds, now in the possession of the federal government, were held in First Bank, Titan Bank, and Zenith Bank accounts managed by individuals and entities, including Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
Properties affected by the forfeiture include 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos; AM Plaza, an 11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1 on Esa Street, Imoore Land, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro, Owolomi Village, Ibeju-Lekki LGA, Lagos; and two properties purchased from Chevron Nigeria in Lakes Estate, Lekki, Lagos.
Other properties include a plot at Lekki Foreshore Estate Scheme, Foreshore Estate, Eti-Osa, LGA; an estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services; land at 1 Bunmi Owulude Street, Lekki Phase 1, Lagos; and a property at 8 Bayo Kuku Road, Ikoyi, Lagos.
Justice Bogoro ruled that these properties and funds were proceeds of unlawful activities and should be forfeited to the Federal Government of Nigeria. The judge questioned the sudden shortage of dollars immediately after Emefiele’s exit from the CBN, stating that the transactions were not legitimate business activities.
“I hold that Anita Omoile is a close crony of the former CBN governor Godwin Emefiele who was given undue influence to unlawfully sway dollars from CBN,” Justice Bogoro said. “Consequently, I find that all the monies and properties in the schedule are finally forfeited to the Federal Government of Nigeria.”
The EFCC, through its counsel Rotimi Oyedepo (SAN), had cited Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution in its application, arguing that the funds and properties were suspected proceeds of unlawful activities.
Finding merit in the EFCC’s case, Justice Bogoro had initially ordered an interim forfeiture and mandated the publication of the order in a national newspaper. After no one could prove the legitimacy of the funds and properties, the judge made the interim order permanent.