Court orders Emefiele to forfeit $1.42m corrupt proceeds

The Federal High Court in Lagos on Tuesday ordered the final forfeiture of $1.426 million linked to the embattled former Central Bank of Nigeria, CBN, governor, Godwin Emefiele.

Justice Ayokunle Faji of the High Court gave the verdict of the final forfeiture of the funds to the Federal Government.

The forfeiture followed an application by the Economic and Financial Crimes Commission on Tuesday.

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“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,” it said.

Recall that on May 29, EFCC had earlier secured an interim order temporarily forfeiting the money.

Emefiele had been under investigation for alleged corruption after he was suspended in June 2023 by President Bola Ahmed Tinubu’s government.