Court Orders Forfeiture Of $1.4m Linked To Former CBN Governor.
A Federal High Court sitting in Lagos has ordered the forfeiture of $1,426,175.14, a sum linked by the Economic and Financial Crimes Commission (EFCC) to the embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele.
Delivering judgment on the case, Justice Ayokunle Faji ruled that the funds were proceeds of unlawful activities and should be forfeited to the Federal Government. The judge stated that the EFCC had successfully demonstrated the illicit nature of the funds, justifying their forfeiture.
The anti-graft agency, represented by its counsel, Bilkisu Bahri-Bala, informed the court that the money was held in the account of Donatone Limited, domiciled in Titan Trust Bank under account number 2000000500. According to the EFCC, investigations had confirmed that the funds were derived from unlawful transactions.
An affidavit submitted by EFCC investigator David Jayeoba revealed that intelligence reports had prompted the commission to initiate forfeiture proceedings. As part of the legal process, Justice Faji had previously issued an interim forfeiture order on 30th May 2024.
With the latest ruling, the funds will now be permanently forfeited to the Federal Government, marking another step in the ongoing anti-corruption efforts by the EFCC.