A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. In his ruling on Thursday, Justice Olayinka Faji upheld the Economic and Financial Crimes Commission (EFCC)’s argument that the funds were proceeds of unlawful activities and should be forfeited to the Federal Government.
The EFCC, represented by its counsel Bilkisu Bahari-Bala, traced the funds to an account belonging to Donatone Limited at Titan Trust Bank. According to the commission, investigations confirmed that the money was linked to fraudulent activities involving Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi.
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An affidavit submitted by EFCC investigator David Jayeoba revealed that intelligence reports led to the discovery of the concealed funds. The investigation further uncovered a scheme allegedly orchestrated to hide and disguise illicit proceeds.
Justice Faji had previously issued an interim forfeiture order on May 30, 2024, before ruling in favour of a final forfeiture on Thursday. The decision marks another legal setback for Emefiele, who is facing multiple corruption allegations.
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