The Federal High Court in Lagos has delivered a significant judgment, ordering the final forfeiture of $1,426,175.14 linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Naija News reports that the court’s decision comes after the Economic and Financial Crimes Commission (EFCC) filed an application pursuant to section 17 of the Advance Fee Fraud and other Fraud-related Offences Act and section 44 (2)(B) of the 1999 Constitution.
The EFCC had traced the funds to be proceeds of unlawful activities, and the court was satisfied with the evidence presented.
The funds were warehoused in an account domiciled in Titan Trust Bank, and the signatories to the account are at large.
The court had earlier granted an interim forfeiture order on May 29, 2024, which was published in a national daily.
In the affidavit deposed to by David Jayeoba, an Investigating Officer with the EFCC, it was stated that the Commission received a credible and direct intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account.
The funds were reasonably suspected to be part of proceeds of unlawful activities carried out by the erstwhile Central Bank of Nigeria Governor, Godwin Emefiele, and his cronies.
The investigation revealed that Uzeobo Anthony and Adebanjo Olurotimi, directors of Donatus Limited, were procured by Godwin Emefiele to conceal, retain, and disguise funds reasonably suspected to be proceeds of unlawful activities.
Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex.
Uzeobo Anthony and Adebanjo Olurotimi used to collect bribes and gratification on behalf of Godwin Emefiele to get approval for accessing Forex.
One of the entities paid a total sum of Twenty-Six Million Five Hundred and Fifty-Five Thousand Million Dollars ($26,552,000.00) into the account of Donatus Limited domiciled in Titan Trust account number 2000000500.
The credits came into the account on various dates, and the investigation traced the funds to have been fixed into interest-yielding accounts, dissipated, and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.
The balance standing in the said account as of today is the sum of One Million Four Hundred and Twenty-Six Thousand One Hundred and Seventy-Five US dollars (US$1,426,175.14), which the EFCC seeks to forfeit to the Federal Government of Nigeria.
The signatories to the account warehousing the sum of ($1,426,175.14) sought to be forfeited are at large and making frantic efforts to dissipate the funds electronically.
The court, after listening to the submission of the EFCC lawyer, held that “having been satisfied with the applicant’s application and submission of Counsel, I hereby grant the prayer finally forfeiting the said funds in question.”
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