In a landmark ruling, the Federal High Court has ordered the temporary forfeiture of assets linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, worth billions of naira and dollars. The assets include cash, properties, and investments valued at $4.72 million, N830.88 million, and multibillion-naira properties.
Justice Yellim Bogoro granted the order on Thursday, following an ex-parte application by the Economic and Financial Crimes Commission (EFCC) counsel, Bilkisu Buhari and C.C Chineye. The EFCC argued that the assets were proceeds of unlawful activities and sought the court’s intervention to prevent their dissipation.
The seized assets include funds warehoused in several banks operated by various companies, 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. These companies are alleged to be linked to Emefiele and were used to launder and conceal the proceeds of his unlawful activities.
The interim forfeiture order is a significant milestone in the EFCC’s investigation into Emefiele’s activities while in office. The agency has been probing allegations of financial misconduct, money laundering, and abuse of office against the former CBN governor. Emefiele’s tenure was marked by several controversies, including the alleged diversion of billions of naira and dollars, as well as the manipulation of the foreign exchange market.
The EFCC’s investigation revealed that Emefiele used his position to award contracts and licenses to companies linked to him, and then used these companies to launder and conceal the proceeds. The agency also alleges that Emefiele used his influence to manipulate the foreign exchange market, causing significant losses to the Nigerian economy.
The court’s decision sends a strong message that no one is above the law and that the fight against corruption will be pursued relentlessly. The EFCC has vowed to continue its investigation and ensure that all those found culpable are brought to justice.