A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million connected to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. Justice Olayinka Faji ruled on Thursday, agreeing with the Economic and Financial Crimes Commission (EFCC) that the funds were proceeds of unlawful activities and should be forfeited to the Federal Government.
Thank you for reading this post, don't forget to subscribe!EFCC counsel, Bilkisu Bahari-Bala, revealed that the sum of $1,426,175.14 was found in Donatone Limited’s account at Titan Trust Bank, and investigations confirmed its link to fraudulent activities. EFCC investigator David Jayeoba testified that intelligence led to the discovery of the funds concealed in the account.
The investigation uncovered a scheme involving Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped conceal and disguise the illicit funds. The court documents further revealed that Anthony and Olurotimi were involved in concealing funds and facilitating bribes for Emefiele’s Forex approvals.
Justice Faji had issued an interim forfeiture order in May 2024 before confirming the permanent forfeiture of the funds.
