Court Orders Final Forfeiture of Another $1.4M Linked to Emefiele

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A Federal Excessive Court docket in Lagos has ordered the ultimate forfeiture of $1.4 million allegedly linked to former Central Financial institution of Nigeria (CBN) Governor, Godwin Emefiele, ruling that the sum was the proceeds of illegal actions.

Justice Olayinka Faji, delivering the judgment on Thursday, March 6, directed that the funds be forfeited to the Federal Authorities. The Financial and Monetary Crimes Fee (EFCC), represented by counsel Bilkisu Bahari-Bala, revealed that $1,426,175.14 was present in Donatone Restricted’s account at Titan Belief Financial institution (Account No. 2000000500) and traced to fraudulent transactions.

In accordance with an affidavit filed by EFCC investigator David Jayeoba, intelligence reviews led to the invention of the hidden funds. He disclosed that two people, Uzeobo Anthony and Adebanjo Olurotimi, performed key roles in concealing the cash suspected to be proceeds of Emefiele’s illegal actions whereas in workplace.

The EFCC alleged that each males have been recruited by Emefiele to assist cover illicit funds, utilizing Donatone Ltd to gather bribes and facilitate foreign exchange approvals.

Justice Faji had initially issued an interim forfeiture order on Might 30, 2024, earlier than granting the ultimate forfeiture on Thursday, sealing the federal government’s declare to the funds.

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