Another $1.4m linked to Emefiele forfeitured

A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

Justice Olayinka Faji ruled on Thursday, March 6, that the sum was the proceeds of unlawful activities and must be forfeited to the Federal Government.

The Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Bahari-Bala, told the court that $1,426,175.14 was found in the account of Donatone Limited at Titan Trust Bank (Account No. 2000000500) and that investigations confirmed the money was linked to fraudulent activities.

An affidavit deposed by EFCC investigator David Jayeoba stated that intelligence reports led to the discovery of the concealed funds. “Investigation revealed that Uzeobo Anthony and Adebanjo Olurotimi are some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Godwin Emefiele,” Jayeoba disclosed.

The EFCC alleged that both men were recruited by Emefiele to help hide and disguise the funds. “Both men used Donatone Ltd to collect bribes and gratification on behalf of Emefiele to get approval for accessing Forex,” the investigator added.

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Justice Faji had previously issued an interim forfeiture order on May 30, 2024, before granting the final forfeiture of the funds on Thursday.

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