A federal high court in Lagos has ordered the forfeiture of $4.7 million, ₦830.9 million, and multiple properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
The judgment marks the latest in the legal troubles of Emefiele, who has faced increasing scrutiny over allegations of financial misconduct and abuse of office during his tenure.
The order was issued by Justice Yellim Bogoro on Friday, following a motion filed by the Economic and Financial Crimes Commission (EFCC). The EFCC argued that the assets were proceeds of unlawful activities, citing Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria.
The forfeited funds are domiciled across three major Nigerian banks: First Bank, Titan Bank, and Zenith Bank. The accounts, operated by various companies and individuals allegedly linked to Emefiele, include several entities and individuals.
The court also ordered the forfeiture of €20,000, £1,999.50, and investments worth $5.3 million linked to the said companies and individuals.
Emefiele, who served as CBN governor from 2014 to 2023, was removed in June 2023. He faces allegations of fraud, corruption, and other illegal practices, which he denies.
