LAGOS, Nigeria (VOICE OF NAIJA)-The Federal High Court in Lagos, on Tuesday, issued a ruling to permanently forfeit $1,426,175.14 connected to Godwin Emefiele, the former Governor of the Central Bank of Nigeria.
Following an application by the Economic and Financial Crimes Commission (EFCC), Justice Ayokunle Faji on Tuesday directed the final forfeiture of the funds to the Federal Government.
The final forfeiture order came after the Economic and Financial Crimes Commission applied on Tuesday.
Previously, on May 29, 2014, the anti-graft agency had obtained an interim order temporarily forfeiting the money.
The judge mandated that the court order be published in newspapers, allowing interested parties to appear and contest the permanent forfeiture.
During the hearing, EFCC counsel Mrs. Bilkisu Buhari-Bala confirmed compliance with the publication requirement, noting that no claimants had come forward to contest the funds.
She stated that the funds originated from illegal activities involving Emefiele.
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Buhari-Bala explained that EFCC investigations indicated the former CBN governor received the funds as kickbacks for approving forex allocations to multinational corporations during the nation’s forex crisis.
The EFCC lawyer cited Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act as the legal basis for the forfeiture order.
This forfeiture of $1.4 million occurred shortly after the court had recently ordered the permanent forfeiture of valuable properties worth N12.18 billion from Emefiele.
The forfeiture order was granted by Justice C.J. Aneke.
Supporting the Tuesday forfeiture application, EFCC investigator David Jayeoba stated in an affidavit that the agency discovered the funds through credible and direct intelligence.
“Part of the said funds, which represent the proceeds of Godwin Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited.
“Uzeobo Anthony and Adebanjo Olurotimi were procured by Godwin Emefiele and used to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.
“Between 2021 and 2022, when accessibility to forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source forex.
“Both Uzeobo Anthony and Adebanjo Olurotimi used to collect bribes and gratification on behalf of Godwin Emefiele to get approval for accessing forex.
“One of the entities paid a total sum of $26,552,000.00 into the account domiciled in Titan Trust account number 2000000500.
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“The said credits came into the account on the 9th of November 2021: $6,450,000; 15th of November 2021: $6,050,000.00; 16th of December 2021: $5,400,000.00; 23rd of December 2021: $652,000, 31th January 2022: $3,000,000.00 and on the 21st September 2022: $5,000,000.00.
“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.
“Of the total sum of $26, 555, 000.00 received by Donatus Limited, the balance standing in the said account as of today is $1,426, 175. 14.
“It is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of Godwin Emefiele and his cronies.
“That investigation further revealed that the international entities sourcing for forex were pressured into parting with huge funds to access forex during the period. And that the signatories to the account warehousing the sum of $1,426, 175.14) sought to be forfeited are at large and are making frantic efforts to dissipate the funds electronically.”