The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of $1,426,175.14 linked to Godwin Emefiele, former Central Bank of Nigeria (CBN) Governor.
Ayokunle Faji, the presiding judge granted the order on Thursday following a motion filed by the Economic and Financial Crimes Commission (EFCC).
The anti-graft agency had traced the funds to Donatone Limited’s account with Titan Trust Bank, alleging they were proceeds of unlawful activities.
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According to EFCC investigator David Jayeoba, the funds, initially part of a larger sum of $26.55 million had been fixed in interest-yielding accounts, laundered through a foreign account in Mauritius, and later returned to Nigeria under disguise.
The remaining balance of $1.42 million was allegedly at risk of being electronically dissipated by account signatories, who are currently at large.
The EFCC’s motion for forfeiture was uncontested, leading the court to grant the order.
However, Donatone Limited’s solicitors later filed a counter-affidavit disputing the EFCC’s claims.
The commission noted that in response, provided further evidence to support its case.
In his ruling, Faji emphasized that anyone laying claim to the funds must prove their lawful acquisition.
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“Having listened to the submission of the applicant’s counsel and also perused the motion, the motion is hereby granted,” he declared.
The anti-graft agency mentioned that with this ruling, the funds are now permanently forfeited to the Federal Government of Nigeria.
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