On Tuesday, the Federal High Court in Lagos ruled that the $1,426,175.14 that was connected to Godwin Emefiele, the recently deceased governor of the Central Bank of Nigeria, would be permanently forfeited.
The Federal Government was granted the final forfeiture of the funds by Judge Ayokunle Faji.
After the Economic and Financial Crimes Commission filed an application on Tuesday, the final forfeiture order was issued.
On May 29, 2014, the anti-graft agency was able to get an interim order that temporarily forfeited the money.
The judge ruled that the court order would be published in the press, allowing anyone interested in the money to come to court and provide justification for why it shouldn’t be forfeited permanently.
Mrs. Bilkisu Buhari-Bala, the EFCC’s attorney, stated during the Tuesday hearing that the commission had complied with the publication order and that no one had come forward to collect the money. She said that the money was the result of Emefiele’s illegal actions.
According to Buhari-Bala, the EFCC’s investigation showed that the former governor of the CBN received the dollars as payment for approving the country’s forex allocation to foreign companies during the crisis.
According to the EFCC attorney, the forfeiture order was made by the court according to Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act.
Only a few days ago, the same court ordered the permanent confiscation of Emefiele’s chosen properties, valued at N12.18 billion. This Tuesday’s forfeiture of the $1.4 million follows suit. Justice C.J. Aneke granted the forfeiture order.
David Jayeoba, an EFCC investigator, stated in an affidavit submitted in support of the forfeiture application on Tuesday that the money was found through direct and reliable intelligence.
“Part of the said funds, which represent the proceeds of Godwin Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited.
“Uzeobo Anthony and Adebanjo Olurotimi were procured by Godwin Emefiele and used to conceal, retain, and disguise funds reasonably suspected to be proceeds of unlawful activities.
“Between 2021 and 2022, when accessibility to forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source forex.
“Both Uzeobo Anthony and Adebanjo Olurotimi used to collect bribes and gratification on behalf of Godwin Emefiele to get approval for accessing forex.
“One of the entities paid a total sum of $26,552,000.00 into the account domiciled in Titan Trust account number 2000000500.
“The said credits came into the account on the 9th of November 2021: $6,450,000; 15th of November 2021: $6,050,000.00; 16th of December 2021: $5,400,000.00; 23rd of December 2021: $652,000, 31th January 2022: $3,000,000.00 and on the 21st September 2022: $5,000,000.00.
“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.
“Of the total sum of $26, 555, 000.00 received by Donatus Limited, the balance standing in the said account as of today is $1,426, 175. 14.
“It is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of Godwin Emefiele and his cronies
