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Court orders interim forfeiture of $1.4m linked to ex-CBN Gov, Emefiele



A Federal High Court sitting in Lagos has ordered the interim forfeiture of $1.4 million said to be linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

The order, granted by Justice Ayokunle Faji, directs the forfeiture of the funds to the Federal Government of Nigeria.

The court also ordered the Economic and Financial Crimes Commission (EFCC) to publish the interim forfeiture order in a national newspaper, allowing anyone interested in the money to appear before the court within 14 days and show cause why the final order of forfeiture should not be made.

The funds, domiciled in Titan Bank Limited’s account, are suspected to be proceeds of unlawful activities. This order follows a similar one granted on May 23 by Justice Yellim Bogoro, ordering the interim forfeiture of additional sums and properties linked to Emefiele.

READ ALSO: Emefiele arraigned, pleads not guilty to printing N684m notes with N18.96bn

The EFCC’s counsel, Bilikisu Buhari-Bala, moved the ex parte application, citing Section 17 of the Advance Fee Fraud and other fraud-related Offences Act No. 14, 2006, and Section 44 (2)(B) of the 1999 Constitution. The court has adjourned the matter to June 25 for the hearing of the final forfeiture of the funds.

This development marks a significant step in the investigation and potential recovery of alleged illicit funds linked to the former CBN governor, underscoring the judiciary’s role in combating financial crimes.

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