The Federal High Court in Ikoyi, Lagos, has mandated a temporary confiscation of assets and funds amounting to $4,719,054 USD and N830,875,611, associated with the former Chief of the Central Bank of Nigeria, Godwin Emefiele.
The declaration, made yesterday, Thursday, May 23, 2024, by Justice Yellim Bogoro, came in response to an ex parte plea by the Economic and Financial Crimes Commission (EFCC) through counsels Bilkisu Buhari and C.C Chineye.
Justice Bogoro stated, “Upon careful examination of the application’s merit, it is hereby approved as sought.
The applicant is instructed to publicize this order in any national daily to invite interested parties to explain why the final order of forfeiture shouldn’t be granted,” as per the court’s instructions.
The temporarily surrendered properties are reported to be distributed across various bank accounts managed by several companies and individuals. Among the implicated assets are extensive real estate holdings in both Nigeria and the United States.
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The EFCC petitioned for the provisional seizure on the grounds of these assets being potential proceeds of criminal activities, as outlined under specific legal and constitutional provisions. The agency requested:
– Temporary forfeiture of the enumerated funds to the Federal Government of Nigeria.
– Temporary forfeiture of the specified properties considered to be proceeds from illegal activities.
– An order for the publication of the interim forfeiture to allow for any contesting parties to come forward.
In conclusion, After hearing the arguments of the EFCC’s counsel, Justice Bogoro affirmed the legitimacy of the interim order.
The advancement of this case is slated for July 2, 2024, where the court is expected to address the motion for a permanent forfeiture.
