The Federal High Court in Lagos has issued a final forfeiture order for $2.045 million, seven high-value properties, and share certificates linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Justice Deinde Dipeolu ruled for the permanent forfeiture of these assets, noting that neither Emefiele nor any other interested party contested the initial interim forfeiture. The court found that Emefiele was unable to demonstrate that his lawful earnings from Zenith Bank and the CBN financed these properties, and he failed to produce documentation linking him to their acquisition.
Emefiele had denied connections to the companies associated with the properties, which include Amrash Ventures Limited, Modern Hotels Limited, Finebury Properties Limited, Fidelity Express Services Limited, H & Y Business Global Limited, and SDEM Erectors Nigeria Limited. None of these companies appeared in court to stake a claim on the assets.
Justice Dipeolu remarked, “The circumstances imply there may be concealed motives behind the acquisitions,” and concluded that Emefiele did not establish a legitimate claim to the properties.
