A Federal High Court sitting in Lagos has ordered the final forfeiture of $1.4m linked to a former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
Justice Ayokunle Faji, in a ruling on Thursday, declared that the money was proven to be the proceeds of unlawful activities.
The Economic and Financial Crimes Commission (EFCC) had, through its counsel, Bilkisu Bahri-Bala, informed the court that $1,426,175.14 was found in the account of Donatone Limited at Titan Trust Bank (Account No. 2000000500), and investigations linked the money to fraudulent activities.
An affidavit deposed by EFCC investigator David Jayeoba revealed that intelligence reports led to the discovery of funds concealed in Donatone Limited’s account.
According to Jayeoba, the investigation uncovered a scheme allegedly involving Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped hide and disguise the proceeds of the illicit activities.
The investigator alleged that Emefiele and his associates collected bribes and kickbacks from businesses seeking forex approvals between 2021 and 2022, when foreign exchange was scarce in Nigeria.
According to Jayeoba, one such entity, identified as (NP), reportedly paid $26,552,000 into Donatone Limited’s account at Titan Trust Bank.
Justice Faji had on May 30 2024, issued an interim forfeiture order on May 30, 2024, calling on concerned parties to show cause why the funds should not be forfeited to the federal government.
Having not received any claims, the judge proceeded to order a final forfeiture of the funds.
