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Court seizes N830m, $4.7m and multibillion naira assets linked to Emefiele (full list)

Court seizes multibillion naira assets linked to Emefiele

A Federal High Court in Ikoyi, Lagos, has issued an interim forfeiture order for $4,719,054, N830,875,611, and various properties linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice Yellim Bogoro granted the order on Thursday, May 23, 2024, following an ex-parte application by the Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Buhari and C.C. Chineye.

Justice Bogoro stated, “I find merit in the application and hereby grant it as requested. The applicant should publish this order in any daily newspaper circulating nationwide for anyone interested to show cause why the final forfeiture order should not be made.”

The funds, temporarily forfeited to the Federal Government, are reportedly held in bank accounts operated by individuals and entities 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.

Godwin Emefiele’s properties forfeited include: 

– 94 units of an 11-story building under construction at 2 Otunba Elegushi 2nd Avenue (formerly Club Road), Ikoyi, Lagos.

– AM Plaza, an 11-story office space at 1E Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.

– Imore Industrial Park 1, Esa Street, Imoore Land, Oriade LCDA, Amuwo Odofin LGA, Lagos.

– Mitrewood and Tatler Warehouse (furniture plant) near Elemoro, Owolomi Village, Ibeju-Lekki LGA, Lagos.

– Two properties purchased from Chevron Nigeria, located in Lakes Estate, Lekki, Lagos.

Other properties include:

– A plot measuring 1,038.069 sqm at Lekki Foreshore Estate Scheme, Block A, Plot 4, Eti-Osa LGA.

– An estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services.

– Land at No. 1 Bunmi Owulude Street (Maruwa), Lekki Phase 1, Lagos state.

– Property at 8 Bayo Kuku Road, Ikoyi, Lagos.

The EFCC approached the court for the interim forfeiture of the funds and properties under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Section 44(2)(b) of the Constitution, and the inherent jurisdiction of the court. The anti-graft agency requested:

– An interim order forfeiting the funds in the specified accounts, suspected to be proceeds of unlawful activities, to the Federal Government.

– An interim order forfeiting the properties listed, also suspected to be proceeds of unlawful activities, to the Federal Government.

– An order directing the publication of the interim forfeiture orders in a national newspaper, inviting anyone interested in the funds and properties to appear before the court within fourteen days to show cause why a final forfeiture order shouldn’t be made.

Justice Bogoro, after hearing the EFCC’s submission, granted the ex-parte motion and noted, “I have listened to the submission of the applicant’s counsel and reviewed the motion and supporting affidavit.” The case was adjourned to July 2, 2024, for the motion for final forfeiture.

This Article is Fact-Checked. See Policy.

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