Justice Dehinde Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, on November 1, 2024, ordered the final forfeiture of the sum of $2.045 million, seven landed properties, and the two share certificates of Queensdorf Global Fund Limited Trust linked to the former Governor of the Central Bank of Nigeria, Godwin Emefiele.
Justice Dipeolu gave the order following a motion on notice filed and argued by a team of lawyers led by Rotimi Oyedepo, SAN, for the Economic and Financial Crimes Commission.
According to a statement from the EFCC’s Head of Media and Publicity, Dele Oyewale, the forfeited properties include: two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped plot measuring 1919.592 sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65A, Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; and a four-bedroom duplex at 12 A, Probyn Road, Ikoyi, Lagos.
Others include an industrial complex under construction on 22 plots of land in Agbor, Delta State; 8 units of an undetached apartment on a plot measuring 2457.60 sqm at No. 8A, Adekunle Lawal Road, Ikoyi; and a full duplex together with all its amenities on a plot of land measuring 2217.87 sqm at 2a Bank Road, Ikoyi, Lagos.
The statement said, “Justice Akintayo Aluko, a vacation judge, had, on August 15, 2024, ordered the interim forfeiture of the properties, following an ex parte application filed by the EFCC through its lawyer, C.C. Okezie.
“Moving the application dated August 13, 2024, and filed on August 14, 2024, Okezie had told the court that the properties, cash, and shares were reasonably suspected to have been acquired with proceeds of unlawful activities by Emefiele.”
Oyewale stated in his ruling that Justice Aluko had granted the application as prayed and also ordered the Commission to publish the interim order in any of these newspapers — The Punch, The Nation, or The Guardian—and on the EFCC website within 14 days, for any interested party to show cause why the final order of forfeiture should not be made in favour of the Federal Government of Nigeria.
He noted that Emefiele failed to contest the forfeiture within the court’s stipulated timeframe.
During the sitting on October 11, 2024, the EFCC counsel applied for the final forfeiture of the properties.
Moving the application for the final forfeiture of the properties on Friday, Oyedepo informed the court that the Commission had complied with the court’s order regarding publication.
After listening to the submissions of the EFCC’s counsel, the judge ordered the final forfeiture of the properties.
According to the judge, Emefiele was unable to connect his lawful earnings from both Zenith Bank and the Central Bank of Nigeria to the acquisition of the properties.
The court also held that the former CBN Governor failed to provide documents or links to show that he owned the properties.
Justice Dipeolu stated, “The conclusion that can be deduced is that there must be something dark about the acquisition of the properties, which Emefiele and the companies do not want to come to light.
“That the interested party has failed to demonstrate any lawful interest in the properties and that they were acquired from his legitimate earnings. I, therefore, order the final forfeiture to the Federal Government of Nigeria of all those properties… which are reasonably suspected to have been acquired with proceeds of unlawful activities.”