Ruling Set for November in Emefiele’s Forfeiture Case
The Federal High Court in Lagos has set November 1, 2024, as the date to rule on the Economic and Financial Crimes Commission’s (EFCC) application for the final forfeiture of $2.045 million, seven prime properties, and shares linked to former Central Bank of Nigeria Governor, Godwin Emefiele. Justice Deinde Dipeolu will also determine the court’s jurisdiction in response to Emefiele’s challenge over the forfeiture proceedings.
EFCC Seeks Final Forfeiture of Assets
On August 25, 2024, the court granted an interim order allowing the EFCC to seize the assets temporarily. The court directed the EFCC to publish the interim forfeiture notice, inviting any interested parties to contest the forfeiture. During Friday’s hearing, EFCC’s counsel, Rotimi Oyedepo, asserted that no one had raised objections to the forfeiture of the funds and shares.
Dispute Over Property Ownership
Oyedepo also contested the legality of Emefiele’s acquisition of the properties, stating that his earnings from Zenith Bank and the CBN were insufficient to purchase them. The EFCC alleges that Emefiele acquired the properties, including luxury duplexes and undeveloped land in Lagos and Delta State, through questionable means.
Emefiele’s Defence Against Forfeiture
In response, Emefiele’s lawyer, Olalekan Ojo, argued that his client provided sufficient evidence proving the legitimacy of the assets and called for the court to reject the EFCC’s application for forfeiture. He further filed an application challenging the court’s jurisdiction, citing Emefiele’s ongoing criminal trials in Abuja and Lagos courts.
EFCC Counters Defence Claims
Oyedepo countered Ojo’s claims by stating that ongoing criminal charges should not delay the forfeiture process. He referenced prior court rulings that allow forfeiture to proceed independently of pending criminal cases, especially when assets are suspected to be proceeds of unlawful activity.
Final Ruling Anticipated
As the legal battle continues, all eyes are on the November 1 ruling, which will determine whether Emefiele’s assets will be permanently forfeited to the Federal Government. This decision could have far-reaching implications for the former CBN Governor and the ongoing investigations into his financial dealings.
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