Court Orders Interim Forfeiture Of Millions And Properties Linked To Ex-CBN Gov, Emefiele

The Federal High Court in Lagos State has ordered the interim forfeiture of $2.045 million, seven luxury properties, and shares tied to former Central Bank of Nigeria (CBN) Governor, Godwin Ifeanyi Emefiele.

Naija News reports that the properties, located in affluent areas of Lagos and Delta State, are suspected to have been acquired through unlawful means.

The ruling was issued by Justice Akintayo Aluko on Thursday, following a motion filed by Rotimi Oyedepo (SAN), representing the Economic and Financial Crimes Commission (EFCC).

The case, marked FHC/L/MISC/500/24, involved an affidavit from EFCC investigator Idi Musa and detailed properties in Lekki, Ikoyi, and Agbor, linked to Emefiele’s alleged fraudulent activities.

The EFCC suspects the funds and assets in question were proceeds of illegal activities, citing the Advanced Fee Fraud and Other Related Offenses Act.

Among the properties listed are two identical duplexes on Hakeem Odumosu Street in Lekki Phase 1, a bungalow, and several other high-end properties across Lagos and Delta State. Shares from Queensdorf Global Fund Limited Trust were also implicated in the investigation.

Justice Aluko granted the EFCC’s request for interim forfeiture and instructed that the order be published in national newspapers, giving interested parties 14 days to contest the forfeiture. The case has been adjourned until September 5 for further proceedings.

In his affidavit, the EFCC investigator highlighted a web of corruption involving senior CBN officials, including kickbacks for foreign exchange allocations and the use of shell companies to launder money. One key individual, Ifeanyi Omeke, a senior executive at Zenith Bank, is said to have facilitated property transactions for Emefiele.

Documents recovered from Omeke’s office led to the discovery of several properties linked to the former CBN governor, acquired through alleged fraudulent activities.

The EFCC is pushing for the final forfeiture of these assets to the Federal Government of Nigeria, arguing that they were obtained through illegal means and not from legitimate earnings.

Further hearing of the matter has been adjourned to September 5.

In his affidavit, the deponent averred that he was “assigned to investigate the damning intelligence report received by the EFCC in respect of monumental fraudulent activities perpetrated by some senior officers of the Central Bank of Nigeria through which huge sums of money were fraudulently converted and transferred for personal use.

“The Commission, whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the Central Bank of Nigeria (CBN) and his Cronies, traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities.

“The said properties particularized in Schedules ‘A’ and ‘B’ herein, having been reasonably suspected to have been acquired/ developed with proceeds of unlawful activities are now sought to be forfeited to the Federal Government of Nigeria in the interim.

“In the cause of this investigation, it was revealed that the erstwhile CBN governor negotiates kickbacks in return for allocation of Foreign Exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.

“Upon investigation, it was revealed that one Ifeanyi Omeke, a Deputy General Manager and Head, Litigation of Zenith Bank Plc, who worked closely with Godwin Emefiele ran several errands for him which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos. And that upon a search conducted in the office premises of Mr. Ifeanyi Collins Omeke by the operatives, several seals for various companies including but not limited to Queensdorf Global Fund Limited were recovered.

“That the said seals were kept in the custody of Mr. Ifeanyi Collins Omeke by Godwin Emefiele. And that Investigation has revealed that all seven companies listed above are suspected to be shell companies used by Godwin Emefiele as vehicles for money laundering and holding proceeds of his illicit activities.

“That sometime in 2018, one Olusola Bodunde acquired a parcel of land located at Hakeem Odumosu Street, Lekki Phase 1, Lagos, and partnered with one Idowu Sharafa to develop three units of 5-bedroom duplexes with attached BQ on the land. And that sometime in 2020, one Ifeanyi Omeke approached Mr. Olusola Bodunde and subsequently paid the total sum of N460,000,000. 00 (Four Hundred and Sixty Million Naira) for two of the three developed duplexes, purchased in the name of Amrash Ventures Limited, all on behalf and the instructions of Godwin Emefiele.

“That the sum of Two Million, Forty-Five Thousand Dollars ($2,045,000.00) and the shares certificate, were also recovered in the office of Mr. Collins Ifeanyi Omeke at the Zenith Bank Head office on Ajose Adeogun Street, Victoria Island, Lagos.

“That most of the proceeds of Godwin Emefiele’s illegal activities were invested in the acquisition of various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties now sought to be forfeited were not acquired with proceeds of any legitimate earnings but rather from funds reasonably suspected to have been derived from proceeds of unlawful activities.

“That from findings of our investigation, I also know as a fact and verily believe that the properties sought to be forfeited were acquired in the name of cooperating entities to conceal the unlawful origin of the funds used for their acquisition. And that the title document in respect of the properties listed in Schedule A herein was recovered by the team in the course of this investigation.

“That I know as a fact and verily believed that the funds used in for the acquisition of the properties sought to be forfeited are reasonably suspected to be proceeds of unlawful activities and not the legitimate earnings of Godwin Emefiele.

“That most of the fraudulently earned funds have been invested in the acquisition of the various properties now sought to be forfeited to the Federal Government of Nigeria. And that the properties were acquired by Godwin Emefiele and kept in the custody of Mr. Collins Ifeanyi Omeke, with sums traced and reasonably believed to be proceeds of unlawful activities to wit; kickback from allocation of Foreign exchange.

“That investigation further revealed that all these companies were used in the intermediate steps to perfect this scheme of fraud. And that it is in the interest of justice to grant this application.”