The court has ordered the permanent forfeiture of properties worth over N12.18 billion linked to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. The Economic and Financial Crimes Commission (EFCC) had earlier requested this action, suspecting that Emefiele acquired the properties through fraudulent means.

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The Federal High Court in Lagos, led by Justice Chukwujekwu Aneke, made this decision after hearing from the EFCC’s lawyer, Chineye Okezie. The EFCC claimed that Emefiele bought the properties using proxies and named current and former CBN staff as his accomplices in the fraud. These properties are primarily located in upscale areas of Abuja.

Earlier, on June 5, 2024, the court issued an interim forfeiture order and published it inviting any interested parties to contest the decision. However, no one came forward by June 21, allowing the EFCC to proceed with the final forfeiture request.

The court reviewed the EFCC’s detailed evidence and decided that the properties should be permanently forfeited to the Federal Government. The properties included shops, apartments, and land in high-end areas like Maitama and Wuse, and were allegedly acquired through illegal activities facilitated by the implicated CBN staff.