The Federal High Court in Lagos has issued a significant ruling ordering the permanent forfeiture of $2.045 million, seven prime properties, and various share certificates associated with former Central Bank of Nigeria (CBN) governor Godwin Emefiele. This decision, delivered by Justice Deinde Dipeolu, marks a crucial step in the ongoing legal proceedings involving Emefiele.
On Friday, Justice Dipeolu declared that the funds and share certificates belonging to Queensdorf Global Fund Limited Trust would be permanently forfeited to the Federal Government. The court’s ruling followed an earlier interim forfeiture, which went unchallenged by Emefiele or any interested parties, leading to the final decision without contest.
The court further ordered the forfeiture of seven properties linked to Emefiele, citing his failure to substantiate that his earnings from Zenith Bank and the CBN were utilized in their acquisition. Justice Dipeolu noted, “The interested party has failed to demonstrate any lawful interest in the properties or prove they were acquired from legitimate earnings.”
In delivering his judgment, Justice Dipeolu emphasized that Emefiele did not provide adequate documentation to establish legitimate ownership of the properties in question. “There must be something dark about the acquisition of the properties which Emefiele and the companies do not want to come to light,” he stated, highlighting concerns regarding the legitimacy of the assets.
Emefiele has consistently denied any connections to the companies responsible for purchasing the properties, which include Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited. None of these firms have appeared in court to assert ownership, further complicating Emefiele’s defense.
The properties subject to forfeiture include two fully detached duplexes located at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos, and an undeveloped plot measuring 1,919.592 square meters at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos. Additional forfeited assets comprise a bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi, and a four-bedroom duplex at 12a Probyn Road, Ikoyi.
Also included in the forfeiture are an industrial complex spanning 22 plots in Agbor, Delta State, and several other properties, such as eight units of undetached apartments on a plot at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex located on 2,217.87 square meters at 2a Bank Road, Ikoyi.
This ruling follows an earlier decision on August 15, 2024, when the Economic and Financial Crimes Commission (EFCC) was granted temporary seizure of the funds, properties, and shares linked to Emefiele. This was based on an ex parte application presented by Rotimi Oyedepo, SAN, the lead counsel for the EFCC.
Peace OdekunleNovember 2, 20242 Mins read
