Embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has taken legal action to fight against the Federal Government’s court-ordered forfeiture of his assets. This bold move comes after a series of court rulings, initiated by the Economic and Financial Crimes Commission (EFCC), that have led to the seizure of significant funds and properties linked to the former CBN governor.
The most recent development occurred on August 12, 2024, when Justice Akintayo Aluko of the Federal High Court granted an interim forfeiture order targeting Emefiele’s assets. This order was obtained by the EFCC, represented by senior prosecution counsel Rotimi Oyedepo (SAN), through an ex parte application. The forfeiture covers a wide range of assets, including substantial real estate holdings and financial instruments.
Among the properties subject to the court’s forfeiture order are two duplexes located at 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos, and an undeveloped land parcel measuring 1919.592 square meters at Oyinkan Abayomi Drive, Ikoyi. Additionally, a bungalow at 65a Oyinkan Abayomi Drive and a four-bedroom duplex at 12a Probyn Road, Ikoyi, were also listed.
Other seized properties include an industrial complex under construction on 22 plots of land in Agbor, Delta State, as well as eight apartment units located on a 2457.60-square-meter property at 8a Adekunle Lawal Road, Ikoyi. The court further ordered the forfeiture of a duplex at 2a Bank Road, Ikoyi, Lagos, and two share certificates linked to Queensdorf Global Fund Limited Trust.
Emefiele has swiftly responded to these forfeiture orders by filing legal applications aimed at contesting the seizures. His legal team, led by senior advocates Olalekan Ojo (SAN) and A. Labi-Lawal, is pushing for the court to prioritize their interlocutory applications, which, if successful, could halt the forfeiture proceedings altogether.
At a recent court hearing, EFCC’s prosecution counsel, Mrs. Bilikisu Buhari-Bala, confirmed that the agency had complied with the court’s directive to publish the forfeiture notice in a national newspaper. The notice, which was published in *The PUNCH* on August 28, 2024, informs interested parties of the ongoing legal process and allows them the opportunity to contest the forfeiture.
Ojo, representing Emefiele, has argued that the law mandates the court to address interlocutory applications before proceeding with final forfeiture decisions. This argument forms the cornerstone of Emefiele’s legal strategy, as his team seeks to block the government’s attempts to permanently seize his assets.
Meanwhile, a separate legal challenge emerged during the proceedings. Mr. Chibuzor Opara, who represents the occupants of one of the affected properties at 8a Adekunle Lawal Road, Ikoyi, requested additional time to file responses on behalf of his clients. Opara explained that his team had not yet received all necessary court documents and thus needed more time to properly prepare their case.
The legal battle surrounding Emefiele’s assets has attracted significant public attention, not only due to his former high-profile position as CBN governor but also because of the substantial value of the properties and funds involved in the case. The outcome of these legal proceedings could set a critical precedent for high-profile asset forfeiture cases in Nigeria.
As the legal drama continues to unfold, all eyes are on the Federal High Court to determine the next steps in this high-stakes legal confrontation. Whether Emefiele can successfully block the forfeiture of his assets or whether the government will prevail in its effort to seize the former governor’s wealth remains to be seen. The case will continue to be closely watched in the weeks and months ahead.
