Take a fresh look at your lifestyle.

Court orders forfeiture of property worth N11.14b linked to Emefiele


Get real time updates directly on you device, subscribe now.

The Federal High Court sitting in Lagos has granted an order of interim forfeiture of properties valued at N11,140,000,000.00 linked to the embattled former Governor of the Central Bank of Nigeria, Mr Godwin Emefiele.

Justice Chukwujekwu Aneke made the order following a motion ex parte lodged and argued by the counsel to the EFCC, Senior Advocate of Nigeria, Rotimi Oyedepo, who led Bilkisu Buhari-Bala and Chineye Okezie in the proceedings.

The court ordered the interim forfeiture of the properties to the Federal Government.

Oyedepo informed the court that Emefiele was suspected of having bought the choice properties by proxy, with the proceeds of fraud. The properties are mostly located in highbrow parts of the Federal Capital Territory, Abuja.

The anti-graft agency also named three CBN Staff, Obayemi Oluwaseun Teben, Akomolafe Adebayo and Olubunmi Makinde as Emefiele’s accomplices who used their positions and influence to secure retail and special allocation of foreign exchange to different companies in exchange for kickbacks.

Get real time updates directly on you device, subscribe now.