On Friday, the Federal High Court in Lagos issued an order for the definitive forfeiture of properties valued at about N11.14 billion to the Federal Government and another N1.04 billion associated with the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Following the hearing of an application brought and contested by the Economic and Financial Crimes Commission (EFCC), through its lawyer Chineye Okezie, Justice Chukwujekwu Aneke issued the decision of permanent forfeiture.
The anti-graft agency’s application for a temporary seizure of the properties, brought and argued by its counsel, Senior Advocate of Nigeria, Mr. Rotimi Oyedepo, was upheld by the judge on June 5, 2024.
Oyedepo told the judge Emefiele was thought to have purchased the desirable homes through a proxy using money obtained through fraud.
Two present and one former employee of CBN were identified by the EFCC as Emefiele’s co-conspirators in the purported scam.
The affidavit submitted in support of the application states that Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde, a former employee of CBN, are the three.
The majority of the houses are found in upscale areas of Abuja, the Federal Capital Territory (FCT).
In order for any interested party to provide justification for why the final decision of forfeiture should not be made, Justice Aneke directed the EFCC to publish the order for interim forfeiture in a national publication.
Following that, the judge postponed the hearing on the application for final forfeiture.
When the case resumed on June 21, Chineye Okezie filed her application for the permanent forfeiture because no one had shown up to challenge the judge’s interim order.
Justice Aneke allowed the application following the reading of a 41-paragraph affidavit provided by EFCC Investigating Officer Michael John Idoko, the 19 exhibits that are attached, a signed written address by Okezie, and a hearing on Okezie’s petition.
The EFCC listed the properties in two schedules, A and B.
“This honorable court is hereby making a final forfeiture order forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities,” the judge declared after carefully reviewing the application and submission of counsel.
They consist of stores and apartments in the Maitama and Wuse Cadastral Zones.
According to Justice Aneke, Schedule B contains properties that were allegedly obtained with profits from illicit operations. As a result, the Federal Government of Nigeria will receive a definitive forfeiture order from this honorable court.
The properties amount N1.04 billion in value and comprise flats and farmland that Oluwaseun paid for.
In line with Olubunmi Makinde, Obayemi Oluwaseun Teben and Akomolafe Adebayo “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks,” according to the affidavit.
“That Olubunmi Makinde serves as the intermediary between Obayemi Oluwaseun Teben, Akomolafe Adebayo, and the different businesses submitting applications to buy foreign currency.”
“That as employees of the Central Bank of Nigeria, Obayemi Oluwaseun Teben and Akomolafe Adebayo have access to the bidding procedures and bid information of businesses that have requested the CBN’s approval of form Ms through their diverse commercial banks.”
