Ex-CBN Gov. Emefiele
A Federal High Court in Lagos has ordered the permanent forfeiture of $4.7 million, ₦830 million, and multiple high-value properties linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
Justice Yellim Bogoro, in a ruling on Friday, also directed the final forfeiture of $900,000 in investments traced to Anita Joy Omoile, a close associate of Emefiele, as well as $4.4 million linked to Deep Blue Energy Services Ltd.
Additional funds seized include ₦283 million held in Zenith Bank under Liman Investment Ltd., €20,000, and £1,999.50 found in accounts tied to Exactquote Bureau De Change (BDC).
The court upheld the Economic and Financial Crimes Commission (EFCC)’s argument that the assets were proceeds of unlawful financial activities, declaring them forfeited to the Federal Government of Nigeria.
Luxury Real Estate Among Seized Assets
The forfeited assets include a mix of luxury office buildings, residential estates, and industrial warehouses in Lagos and Texas, USA: a 94-unit, 11-floor building under construction in Ikoyi, Lagos; AM Plaza, an 11-floor office space in Lekki Peninsula Scheme 1; Imore Industrial Park 1; Amuwo Odofin, Lagos; and Mitrewood and Tatler Warehouse, a furniture plant in Ibeju-Lekki.
Others include two properties purchased from Chevron Nigeria in Lakes Estate, Lekki; a plot at Lekki Foreshore Estate, Eti-Osa; an estate at 100 Cottonwood Coppel Texas Drive, Coppel, Texas; a land parcel in Lekki Phase 1; and a property at 8 Bayo Kuku Road, Ikoyi.
Emefiele’s Alleged Network of Illicit Funds
According to the EFCC, Emefiele, who led the CBN from 2014 to 2023, allegedly used his position to channel funds through close associates, including Omoile. Prosecutors argued that she operated an unlicensed bureau de change business, receiving an illicit inflow of dollars from Emefiele.
Omoile, who is reportedly on the run, allegedly enlisted allies Esther Aderohunmu, Lucia Ewubor, and Calista Ogbonna to move funds through multiple bank accounts.
The court initially granted an interim forfeiture order, allowing the EFCC to publish a notice for any parties with interest to contest the seizure. However, Justice Bogoro dismissed all objections, ruling that the assets were derived from illegitimate financial transactions.
Crackdown on Financial Misconduct
The verdict underscores Nigeria’s ongoing anti-corruption drive, particularly in the financial sector.
The ruling comes amid increased scrutiny of high-profile financial crimes, with authorities intensifying efforts to recover public funds allegedly misappropriated by top officials.
Global Financial Digest
