The Federal High Court in Lagos on Friday ordered the permanent forfeiture of $2.045 million, seven prime properties, and share certificates connected to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Justice Deinde Dipeolu issued the final forfeiture order after neither Emefiele nor any other interested party contested the initial interim forfeiture. The judge concluded that the former CBN governor could not substantiate any legal income from his time at Zenith Bank or the CBN to justify the acquisition of the properties.
The court noted that Emefiele failed to present documentation proving ownership of the assets. Additionally, companies associated with the properties, including Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited, did not appear in court to claim the assets.
“The conclusion that can be deduced is that there must be something dark about the acquisition of the properties which Emefiele and the companies do not want to come to light,” Justice Dipeolu remarked. He further ruled that Emefiele had not demonstrated a lawful interest in the assets, which were suspected to have been acquired through illegal activities.
The forfeited assets include:
- Two detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos;
- Undeveloped land measuring 1919.592sqm on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos;
- A bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi, Lagos;
- A four-bedroom duplex at 12a Probyn Road, Ikoyi, Lagos;
- An industrial complex under construction on 22 plots in Agbor, Delta State;
- An eight-unit apartment complex at No. 8a Adekunle Lawal Road, Ikoyi, Lagos;
- A full duplex on 2217.87sqm at 2a Bank Road, Ikoyi, Lagos.
The judge ordered these properties to be forfeited to the Federal Government of Nigeria.
