The Federal High Court in Lagos has ruled for the permanent forfeiture of $2.045 million, seven high-value properties, and shares linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Justice Deinde Dipeolu delivered the ruling on Friday, declaring the assets, which include funds and share certificates of Queensdorf Global Fund Limited Trust, are to be permanently forfeited to the Federal Government.
This decision follows a previous interim forfeiture order, unchallenged by Emefiele or any other parties of interest. The court cited a lack of evidence from Emefiele to confirm that his earnings from Zenith Bank and the CBN were used to purchase the properties. Emefiele had denied any direct involvement with the companies listed as owners of the properties, and none of these companies came forward to assert ownership.
The properties, now forfeited, include prime real estate in Lagos and Delta State, such as two detached duplexes in Lekki, an undeveloped plot on Oyinkan Abayomi Drive in Ikoyi, and a sprawling industrial complex on 22 plots in Agbor, Delta State. Other properties seized comprise residential units in Ikoyi and a full duplex at Bank Road, Ikoyi.
Justice Dipeolu, noting the lack of legitimate evidence provided by Emefiele, stated, “There must be something dark about the acquisition of the properties, which Emefiele and the companies do not want to come to light,” further affirming that the properties were reasonably suspected to have been purchased with proceeds of illicit activities.
The Economic and Financial Crimes Commission (EFCC) had initially secured temporary control over these assets in August 2024 through an ex parte application filed by the commission’s lead counsel, Rotimi Oyedepo, SAN.
