Morakinyo Akinosun

Lagos – A Nigeria’s Federal High Court sitting in Lagos on Friday – ordered the final forfeiture to the Federal Government properties valued at over ₦11.14bn and another ₦1.04 billion linked to a disgraced former governor of Central Bank of Nigeria (CBN), Godwin Emefiele.
The presiding judge, Justice Chukwujekwu Aneke made the order of permanent forfeiture after hearing an application filed and argued by anti-graft agency, the Economic and Financial Crimes Commission (EFCC), through its counsel Chineye Okezie.
On June 5, 2024, The judge had upheld the anti-graft agency’s motion filed and argued by its counsel, Senior Advocate of Nigeria, Mr. Rotimi Oyedepo for a temporary forfeiture of the properties.
Mr Oyedepo informed the court that Emefiele was suspected of having bought the choice properties by proxy, with the proceeds of fraud.
The EFCC named two current and one former CBN staff as Emefiele’s accomplices in the alleged fraud.
The trio, according to the affidavit filed in support of the application, are Obayemi Oluwaseun Teben and Akomolafe Adebayo working with Olubunmi Makinde a former CBN staff and others.
The properties are mostly located in highbrow parts of the Federal Capital Territory (FCT), Abuja, the country’s capital.
Justice Aneke had ordered the EFCC to publish the order for interim forfeiture in a national newspaper for any interested party to show cause why the final order of forfeiture should not be made.
The judge then adjourned for a hearing of the application for final forfeiture.
Upon resumption on Friday, 21 June, no party appeared in court to contest the judge’s interim order and Chineye Okezie moved her application for the permanent forfeiture.
After reading a 41-paragraph affidavit deposed to by an EFCC Investigating Officer, Michael John Idoko, the 19 Exhibits attached, a Written Address signed by Okezie, and after hearing Okezie’s motion, Justice Aneke granted the application.
The properties were listed by the EFCC in two schedules, A and B.
“Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities,” said Justice Aneke.
They include shops and apartments at Cadastral Zone Maitama and Wuse.
For Schedule B, the judge added: “That a final forfeiture order of this Honourable Court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”
The properties include lands and apartments which were paid for on behalf of Oluwaseun at a total value of ₦1.04 billion.
According to the affidavit, Obayemi Oluwaseun Teben and Akomolafe Adebayo working with Olubunmi Makinde “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks.
“That Olubunmi Makinde is the link between Obayemi Oluwaseun Teben and Akomolafe Adebayo and the various companies applying for the purchase of foreign exchange.
“That Obayemi Oluwaseun Teben and Akomolafe Adebayo as staffs of the Central Bank of Nigeria has access to the bidding processes and bidding Data of companies who has applied for the approval of form Ms to the CBN through their various commercial banks.”

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