The Nation Newspaper

Tag: Emefiele

  • Court orders final forfeiture of N12.18b properties linked to Emefiele

    Court orders final forfeiture of N12.18b properties linked to Emefiele

    The Federal High Court sitting in Lagos on Friday ordered permanent forfeiture to the Federal Government of N11.14 billion and N1.04 billion worth of properties linked to the embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele,.

    Justice Chukwujekwu Aneke made the order of final forfeiture after hearing a motion filed and argued by the Economic and Financial Crimes Commission (EFCC) through its counsel, Chineye Okezie.

    The judge had on June 5, 2024, upheld the anti-graft agency’s motion filed and argued by its counsel, Mr. Rotimi Oyedepo (SAN), for an interim forfeiture of the property.

    Oyedepo informed the court that Emefiele was suspected to have bought the choice properties by proxy with the proceeds of fraud.

    The EFCC named two current and one former CBN staff members as Emefiele’s accomplices in the alleged fraud.

    The trio, according to the affidavit filed in support of the application, includes Obayemi Oluwaseun Teben and Akomolafe Adebayo, working with Olubunmi Makinde, a former CBN official and others.

    The properties are mostly located in highbrow parts of the Federal Capital Territory (FCT), Abuja.

    Justice Aneke ordered the EFCC to publish the order in a national newspaper for any interested party to show cause why the final order of forfeiture should not be made.

    The judge adjourned for hearing of the motion for final forfeiture.

    Upon resumption on June 21, no party appeared in court to contest the judge’s interim order, following which Okezie moved her motion for permanent forfeiture.

    Justice Aneke, after reading a 41-paragraph affidavit deposed to by an EFCC Investigating Officer, Michael John Idoko, the 19 exhibits attached and a written address signed by Okezie, and hearing Okezie’s motion, granted the application.

    The properties were listed by the EFCC in two schedules, A and B.

    The judge said: “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.”

    They include shops and apartments at Cadastral Zone Maitama and Wuse.

    For Schedule B, Justice Aneke 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.”

    Read Also: EFCC arrests two ex-bankers for stealing dead customer’s N4.1m

    The properties include lands and apartments which were paid for on behalf of Oluwaseun at a total value of N1.04billion.

    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 have access to the bidding processes and bidding data of companies who have applied for the approval of form Ms to the CBN through their various commercial banks.”

  • Court orders final forfeiture of N12.18b Abuja properties linked to Emefiele

    Court orders final forfeiture of N12.18b Abuja properties linked to Emefiele

    The Federal High Court sitting in Lagos has permanently forfeited to the Federal Government properties valued at N11,140,000,000.00 (billion) and N1.04 billion linked to the embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

    Justice Chukwujekwu Aneke made the order of final forfeiture after hearing a motion filed and argued by the Economic and Financial Crimes Commission (EFCC), through its counsel Chineye Okezie.

    The judge had on June 5, 2024, upheld the anti-graft agency’s motion filed an argued by its counsel,  Rotimi Oyedepo (SAN), for an interim forfeiture of the property.

    Oyedepo informed the court that Emefiele was suspected to have 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.

    Justice Aneke ordered the EFCC to publish the order in a national newspaper for any interested party to show cause why the final order of forfeiture should not be made. 

    Read Also: Why Corruption can be defeated in Nigeria – EFCC boss

    The judge adjourned for hearing of the motion for final forfeiture.

    Upon resumption on Friday, June 21, no party appeared in court to contest the judge’s interim order and Okezie moved her motion for permanent forfeiture.

    Justice Aneke, 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, granted the application.

    The properties were listed by the EFCC in two schedules, A and B.

    The judge said: “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.”

    They Include shops and apartments at Cadastral Zone Maitama and Wuse.

    For Schedule B, Justice Aneke 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 N1.04billion.

    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.”

  • Ẹlẹ́rìí tako Emefiele ní kóòtù: Buhari kọ́ ló fọwọ́ sí owó Náírà tuntun

    Ẹlẹ́rìí tako Emefiele ní kóòtù: Buhari kọ́ ló fọwọ́ sí owó Náírà tuntun

    By Kayọde Ọmọtọṣọ

    Aṣe loootọ lowe awọn agba to ni bo ba buru tan, iwọ nikan ni yoo ku. Owe yii lo jọ pe o ti fẹẹ ṣẹ mọ gomina ana fun ileefowopamọ agba ilẹ wa, Godwin Emefiele, lara bayii pẹlu bi adari to n ri sọrọ owo titẹ tẹlẹ nileefowopamọ agba ọhun, Ahmed Bello Umar, jẹrii tako o pe ki i ṣe aṣẹ ti aarẹ ana, Muhammadu Buhari, fọwọ si nipa owo tuntun yii ni Emefiele ṣe.

    Ṣe lo ṣalaye fun kootu pe ọtọ ni iru ẹda owo ti Buhari fọwọ si fun gomina tẹlẹ fun ileefowopamọ ilẹ wa yii, ko too di pe ọkunrin naa lọọ ṣe nnkan mi-in to yatọ si eyi ti Buhari pa laṣẹ.

    Umar, ẹni to ni oun ṣi wa lẹnu iṣẹ lasiko na ni pe loootọ, Buhari fọwọ si atunṣe owo Naira yii lọjọ kẹtala, oṣu kẹwaa, ọdun 2022, fun ẹgbẹrun kan Naira, ẹẹdẹgbẹta Naira ati igba Naira, ṣugbọn ṣe ni Emefiele lọọ ṣe ifẹ inu rẹ, to si gbe ẹda owo tuntun to yatọ si ti Buhari sita.

    Read Also: Witness: Emefiele ignored Buhari’s approval in printing naira

    Umar, ẹni ti agbẹjọro ijọba to n rojọ tako Emefiele, Rotimi Oyedepo, fọrọwalẹnuwo ni kootu ni o wa lara ofin to de ileefowopamọ agba ilẹ yii pe ki atunṣe too le wa si owo ilẹ wa, igbimọ alaṣẹ ileefowopamọ ọhun gbọdọ gba aṣẹ lọwọ aarẹ, aarẹ si gbọdọ buwọ lu u ki wọn too ṣe e. Gẹgẹ bo ṣe sọ, o ni ṣe ni Buhari paṣẹ pe ki wọn tẹ awọn owo tuntun yii nilẹ Naijiria dipo ilẹ okeere ti Emefiele ko o lọ. O ni owo ti aarẹ buwọlu ni ami aabo, ti wọn n pe ni ‘QR Code’  lara, ṣugbọn eyi ti wọn ṣe ko ri bẹẹ. Bakan naa lo tun ni apa alaafia ni aworan wa ninu ẹda eyi ti aarẹ buwọlu nigba naa, ṣugbọn apa ọtun ni wọn fi aworan si ninu eyi ti wọn gbe jade.

  • Witness: Emefiele ignored Buhari’s approval in printing naira

    Witness: Emefiele ignored Buhari’s approval in printing naira

    Former Currency Operations Director at the Central Bank of Nigeria (CBN) Ahmed Bello Umar stunned a High Court of the Federal Capital Territory (FCT) in Maitama that the directive of former President Muhammadu Buhari on naira redesign was not followed.

    He told the court that the redesigned naira notes produced under ex-Governor Godwin Emefiele were different from the specifications approved by the former president.

    Umar, who said he was in office during the naira redesign, said although President Buhari gave approval on October 13, 2022 for a specific design of the 1000, 500 and 200 naira notes, the approved specification by the then president was allegedly altered.

    He was testifying in the trial of the former CBN boss on alleged unlawful printing of naira notes.

    Led in evidence by prosecuting lawyer, Rotimi Oyedepo (SAN), Umar said the CBN Act requires that when new notes were to be printed there should be a recommendation of the CBN Board of Directors to the president.

    He added that the Act said the president shall approve the form, design and devices on any new currency note to be produced.

    The witness said that in the last currency redesign, there was a recommendation by the CBN board, which the president approved.

    According to him, the president also approved that the new notes should be produced locally.

    The witness noted that what was eventually produced, which are the new 1000, 500 and 200 notes, were different from what the President approved.

    When asked to differentiate what was produced from what the president approved, the witness said the notes approved by the president had the “QR code” (Quick Response code).

    He added: “The positioning of the portrait on the one approved by the president was on the right side, while what was produced is on the left.

    “The numbering style on the approved notes is different from the one produced.”

    Read Also; Emefiele didn’t produce redesigned notes Buhari approved, says ex-CBN director

    Under cross-examination by defence lawyer, Mahmud Magaji (SAN), the witness said he was the CBN Director of Currency Operations during the naira redesign.

    Umar said he was not part of the decision making on the issue of currency redesign, adding that it was wrong for the lawyer to assume that all decisions about currency must have his contribution.

    “My roles as the Director of Currency Operations include the distribution of notes and replacement of notes that are burnt by fire.

    “I do not have powers to award contract for minting of notes.”

    Umar said that as the director in charge of currency operations, no currency becomes legal tender without his signature and that of the CBN governor.

    He said the three copies of the redesigned notes carry his signature and that of the CBN boss.

    The witness said he was not at the launch of the redesigned currency notes by the president.

    Umar confirmed the notes in circulation as the ones launched by the president.

    The second prosecution witness, Ahmed Halilu, who is the Managing Director of Nigerian Security Printing and Minting (NSPM) Plc, confirmed that the specification of the redesigned notes that was approved by the president was altered.

    While being led in evidence by Oyedepo, the NSPM boss said he was invited sometimes in October 2022 by Emefiele (then as the CBN governor) to his office.

    “He (Emefiele) told me that he has the presidential approval for the redesign of the currency. That is the N1000, N500 and N200 notes,” Halilu said, adding that Emefiele also told him that the currency was to be produced locally.

    Halilu said his team at the NSPM Plc noticed that it would be impossible to deliver on the new notes at that time.

    He said: “As at October 2022 when the issue of naira redesign came up, it was impossible for us to implement what has been designed.

    “We did not produce what was approved. The NSPM Plc suggested then that Delarue of the United Kingdom (UK) should be engaged to redesign the three higher denominations of N1000, N500, and N200, taking note of the capacity, capability and machineries that we have.”

    He said that the UK company was later engaged to redesign the notes which were a variation of what was already approved by the president.

    When asked to identify the differences in the features of the approved and the altered designs, Halilu said the QR code, the numbering system, and the position of the watermark on the substrate (the paper) in what has been redesigned by Delarue could be compared to the one with the presidential approval.

    He added: “It is almost the same with what had been approved by the president.”

  • Emefiele didn’t produce redesigned notes Buhari approved, says ex-CBN director

    Emefiele didn’t produce redesigned notes Buhari approved, says ex-CBN director

    A former Director of Currency Operations of the Central Bank of Nigeria (CJN) Ahmed Bello Umar told a High Court of the Federal Capital Territory FCT in Maitama on Tuesday that the redesigned naira notes produced under ex-Governor Godwin Emefiele was different from the specification approved by former President Muhammadu Buhari.

    Umar, who said he was in office during the naira redesign exercise, said although President Buhari gave approval on October 13, 2022 for a specific design of the N1000, N500 and N200 notes but that the specification approved by the ten President was allegedly altered.

    He spoke while testifying in the trial of Emefiele on alleged unlawful printing of naira notes.

    Led in evidence by prosecuting lawyer, Rotimi Oyedepo (SAN), Umar said  the CBN Act requires that when new notes were to be printed there should be a recommendation of the CBN Board of Directors to the President.

    He added that the Act said the President shall approve the form, design and devices on any new currency note to be produced.

    The witness said in the last currency redesign exercise, there was a recommendation by the CBN board, which the President approved.

    He said the President also approved that the new notes should be produced locally.

    The witness noted that what was eventually produced, which are the new 1000, 500 and 200 notes, were different from what the President approved .

    When asked to differentiate what was produced from what the President approved, the witness said the notes approved by the President had the “QR code” (Quick Response code).

    He added: “The positioning of the portrait on the one approved by the president was on the right side ,while what was produced is on the left.

    “The numbering style on the approved notes is different from the one produced.”

    Under cross-examination by defence lawyer, Mahmud Magaji ( SAN), the witness said he was the CBN’s Director of Currency Operations during the naira redesign exercise.

    He said he was not part of the decision making on the issue of currency redesign, adding that it was wrong for the lawyer to assume that all decisions about currency must have his impute.

     “My roles as the Director of Currency Operations include the distribution of notes and replacement of notes that are burnt by fire, 

    “I do not have powers to award contract for minting of notes.”

    Umar said, as the Director of Currency Operations at the CBN, no currency becomes legal tender without his signature and that of the CBN Governor.

    He said the three copies of the redesigned notes carry his signature and that of the Governor of the CBN.

    The witness said the redesigned currency notes were launched by the President , but that he was not present  when the president launched them

    Umar said the redesigned notes, which were launched by the President are the ones in circulation now.

    The second prosecution witness, Ahmed Halilu who is the Managing Director of 

    Nigerian Security Printing and Minting Plc confirmed that the specification of the redesigned notes that was approved by President Buhari was altered.

    While being led in evidence by Oyedepo, Halilu said he was invited sometimes in October 2022 by Emefiele (then as the CBN Governor) to hso office.

    “He told me that he (Emefiele) has the presidential approval for the redesign of the currency. That is the N1000, 500 and 200 notes.

    He said Emefiele told him that the currency was to be produced locally.

    Read Also: Emefiele printed ‘his own Naira’, ignored design approved by Buhari, says Ex-CBN director 

    Halilu said when Emefiele have him the design to be produced, his team at the NSPM Pls noticed that it would be impossible to deliver on the new notes at that time.

    He said: “As at October 2022 when the issue of naira redesign came up, it was impossible for us to implement what has been designed.

    “We did not produce what was approved. The NSPM Plc suggested then that Delarue of the UK should be engaged to redesign the three higher denominations of 1000, 500, and 200, taking note of the capacity, capability and machineries that we have.”

    He said Delarue of the UK was later engaged by the CBN to redesign the notes which were a variation of what was already approved by the President.

    When asked to identify the differences in the features of the approved and the altered designs, Halilu said the QR code, the numbering system, and the position of the watermark on the substrate (the paper) in what has been redesigned by Delarue could be compared to the one with the presidential approval…

    He added: “It is almost the same with what had been approved by the President.”

    The witness further said: “After the Delarue redesigned the notes, Delarue came up with two options. After the redesign, the NSPM submitted them to the CBN Governor  for approval.

    “One of the options was approved for us to produce and that was what was produced, that is now in circulation.”

    Halilu said the CBN Governor,  who is the Chairman of the NSPM Plc’s  Board of Directors, gave the approval, which was signed by him (the CBN Governor) on 19 October 2022.

    The witness said there was  was no other presidential approval known to him beside the one in Exhibit E series, which was the earlier one by the President.

    The prosecuting lawyer then  showed the witness the three copies of the new notes, which he (the witness) confirmed were the ones his company produced.

    The three notes were tendered by the prosecution and they were admitted by the court as exhibits.

    The witness said Delarue is not a local a company and that Delarue was paid 

    £205,000, but that the defendant did not show him the presidential approval for the payment.

    Under cross examination by Magaji, Halilu said he graduated with a degree in Agriculture in 1990 from the Ahmadu Bello University and that he later got a Masters of Business Administration (MBA) degree from the same school, which is his highest academic qualification.

    Halilu said he has no training in printing and had never delivered any paper in printing before his appointment. He added that he is not a professional printer.

    He said the NSPM Plc is almost like a subsidiary of the CBN because the apex bank has about 90 percent stake in it.

    The witness said the CBN Governor is the board Chairman of the NSPM Plc and that t the CBN is the sole customer of NSPM, as far as currency is concerned.

    He added that his organization also has other customers in areas of printing of security documents.

    At the conclusion of the cross examination, Justice Maryanne Anenih adjourned further proceedings till September 19.

  • Clean up Emefiele’s mess now, Northern group urges CBN

    Clean up Emefiele’s mess now, Northern group urges CBN

    ….accuses ex-CBN gov of treasonable offences 

     The Northern Ethnic Youth Group Assembly (NEYGA) has urged the Central Bank of Nigeria (CBN) to thoroughly clean up its structure and remove remaining influences of Godwin Emefiele-led tenure. 

    The group accused the former leadership of mismanaging funds and compromising the bank’s integrity.

    In a statement signed by Mallam Ibrahim Dan-Musa, the group’s spokesperson, NEYGA alleged that Emefiele’s actions were detrimental to the country’s economy and demanded that the current management take action to hold them accountable. 

    Read Also: Emefiele printed ‘his own Naira’, ignored design approved by Buhari, says Ex-CBN director

    The group emphasised that leaving any remnants of the previous leadership in place would frustrate the ongoing reforms at the CBN and hinder the country’s economic progress.

    NEYGA urged Nigerians to support the current management in their efforts to restore the CBN’s credibility and stability. 

    “We must embrace reform now or face the consequences tomorrow,” the statement warned.

    The group commended the special investigations committee led by Jim Obazee for uncovering the details of the mismanagement and demanded decisive action towards reform and accountability.

    The CBN faces intense scrutiny over its handling of the country’s economy. The current management has promised to implement reforms aimed at stabilising the economy and restoring public trust in the bank. 

    NEYGA’s statement is seen as a vote of confidence in the new management and a call to action to ensure that those responsible for the country’s economic woes are held accountable.

  • Emefiele printed ‘his own Naira’, ignored design approved by Buhari, says Ex-CBN director

    Emefiele printed ‘his own Naira’, ignored design approved by Buhari, says Ex-CBN director

    A former Central Bank of Nigeria (CBN), director of currency operations, Ahmed Umar, has disclosed that the immediate past governor, Godwin Emefiele, printed his own design of the naira.

    The Nation reported that the Economic and Financial Crimes Commission (EFCC) on May 15, arraigned Emefiele on a four-count charge before Justice Maryanne Anenih of the FCT High Court.

    Emefiele, however, denied the charge and was admitted to bail in the sum of N300 million.

    Read Also: Court orders another forfeiture of N11b property linked to Emefiele

    However, Umar while giving evidence at the Federal Capital Territory, FCT, High Court sitting in Maitama, said the features in the design approved by former President Muhammadu Buhari were different from the one Emefiele ordered to be printed.

    Umar said: “The design approved by the President had a QR code, which the currency in circulation does not. The positioning of the portrait was on the right side, that printed by the CBN was on the left and the number scheme approved by the President is different from what the CBN produced.”

  • Court orders another forfeiture of N11b property linked to Emefiele

    Court orders another forfeiture of N11b property linked to Emefiele

    The Federal High Court sitting in Ikoyi, Lagos, yesterday granted the Federal Government an order of interim forfeiture of property valued at N11,140,000,000.00 linked to the embattled former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

    Justice Chukwujekwu Aneke gave the order following a motion filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo (SAN), who led Bilkisu Buhari-Bala and Chineye Okezie during the proceedings.

    Oyedepo told the court that Emefiele was suspected to have bought the choice property by proxy with funds suspected to be proceeds of fraud.

    The property, he said, are mostly located in highbrow parts of the Federal Capital Territory (FCT) in Abuja.

    The EFCC’s counsel said the anti-graft agency identified a former CBN worker and two current ones as Emefiele’s accomplices in the alleged fraud.

    Read Also: Binance will face due pocess on financial crimes charges – FG

    Justice Aneke ordered the EFCC to publish the order in a national newspaper so that any interested party could show cause why the final order of forfeiture should not be made.

    The judge adjourned till June 21 to hear the motion for final forfeiture.

    Justice Ayokunle Faji of the Federal High Court in Lagos had ordered the interim forfeiture of $1,426,175.14 linked to Emefiele on May 30.

    The judge had directed the EFCC to publish the interim forfeiture order in a national newspaper.

    He also directed that anyone interested in the funds must appear before him within 14 days to show cause why the funds should not be permanently forfeited to the Federal Government.

  • Court orders another forfeiture of N11b properties linked to Emefiele

    Court orders another forfeiture of N11b properties linked to Emefiele

    The Federal High Court sitting in Ikoyi, Lagos on Wednesday June 5, granted the Federal Government an order of interim forfeiture of property valued at N11,140,000,000.00 linked to the embattled former Governor of the Central Bank of Nigeria(CBN) Godwin Emefiele.

    Justice Chukwujekwu Aneke, who presided over the matter made the order sequel to a motion filed and argued by the counsel for the Economic and Financial Crimes Commission, Rotimi Oyedepo (SAN), who led Bilkisu Buhari-Bala and Chineye Okezie in the proceedings.

    Oyedepo told the court that Emefiele was suspected of having bought the choice property, by proxy with the proceeds of fraud.

    The properties, he said, are mostly located in highbrow parts of the Federal Capital Territory, Abuja.

    The EFCC’s counsel said the anti-graft agency identified a former CBN staff member and two current ones as Emefiele’s accomplices in the alleged fraud.

    Justice Aneke ordered the EFCC to publish the order in the ThisDay newspaper so that any interested party could show cause why the final order of forfeiture should not be made.

    The judge adjourned till June 21 to hear the motion for final forfeiture.

    It should be recalled that, Justice Ayokunle Faji of the Federal High Court in Lagos had ordered the interim forfeiture of $1,426,175.14 linked to Emefiele May 30, 2024.

    Justice Faji directed the Economic and Financial Crimes Commission to publish the interim forfeiture order in a national newspaper.

    Read Also: Court again orders forfeiture of $1.7m linked to Emefiele

    The judge also stated that anyone interested in the funds must appear before him within 14 days to show cause why the funds should not be permanently forfeited to the Federal Government.

    The court order followed an ex parte application marked FHC/L/CS/232/2024, moved by EFCC counsel, Bilikisu Buhari-Bala.

    The funds were reasonably suspected to be proceeds of unlawful activities of Emefiele, who is facing three criminal trials, Buhari-Bala informed Justice Faji.

  • Court again orders forfeiture of $1.7m linked to Emefiele

    Court again orders forfeiture of $1.7m linked to Emefiele

    A Federal High Court, sitting today May 29, at Ikoyi, Lagos has again ordered an interim forfeiture of the sum of $1, 426, 175.14 million, linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

    In addition to forfeiting the money, Justice Ayokunle Faji also ordered the EFCC to publish the interim forfeiture order in a national newspaper. 

    This is to allow anyone interested in the money being sought to be forfeited to appear before the Court within 14 days and show cause why the final order of forfeiture of the said sum should not be made in favor of the federal government of Nigeria.

    It would be recalled that Justice Yellim Bogoro had earlier ordered an interim forfeiture of the sums of $4,719,054 million USD, N830,875,611 million, and several properties linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

    Justice Bogoro had made the order following an ex-parte argued by the Economic and Financial Crimes Commission (EFCC) counsel, Bilkisu Buhari and C.C Chineye.

    Justice Faji, however, made the above orders, while granting an ex-parte motion marked FHC/L/CS/232/2024, moved by the lawyer to the Economic and Financial Crimes Commission (EFCC), Mrs. Bilikisu Buhari-Bala.

    The money forfeited in the interim is said to be in Donatone Limited’s account number: 2000000500 domiciled in Titan Bank Limited.

    While requesting the orders from the court, Mrs. Buhari-Bala, informed the court that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act No. 14, 2006, and Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.

    She also told the court that the grounds for the orders are: “That this honourable court has the statutory powers under the provisions of section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006 to grant the reliefs being sought.

    “That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activities.”

    Mrs. Buhari-Bala also told the court that the motion Ex-parte is supported by an affidavit deposed to by an investigator with the EFCC, David Jayeoba.

    In the affidavit, the deponent, Jayeoba stated that his commission received credible and directed intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account, which funds are reasonably suspected to be part of proceeds of unlawful activities.

    He also stated that the EFCC, while investigating the monumental fraud carried out by the erstwhile Central Bank of Nigeria Governor, Godwin Emefiele (GE) and his Cronies, discovered a huge amount of money warehoused and concealed in the account of Donatone Limited, domiciled in Titan Trust Bank.

    Jayeoba said that investigation revealed that 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, Mr Godwin Emefiele, are the natural persons behind Donatone Limited, Uzeobo Anthony and Adebanjo Olurotimi, who are directors Donatone Limited.

    The deponent further stated the following: “Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex.

    “That Uzeobo Anthony and Adebanjo Olurotimi used the firm, to collect bribes and gratification on behalf of Godwin Emefiele, to get approval for accessing Forex. And that one of the entities (NP) paid a total sum of $26,552 million USD, into the account of a firm domiciled in Titan Trust account number 2000000500.

    “That the said credits came into the account of the firm on November 9, 2021: $6,450,000; November 5, 2021: $6,050,000.00; December 16, 2021: $5,400,000.00; December 23, 2021: $652,000; January 31, 2022; $3,000,000.00 and September 21, 2022: $5,000,000.00.

    “The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.

    “That of the total sum of $26, 555, 000.00 US dollars received by the firm, the balance standing in the said account as of today is the sum of $1, 426, 175.14 million USD.

    “That it is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of (GE) and his cronies.

    “And that investigation further revealed that the international entities sourcing for forex were pressured into parting with huge funds to access forex during the period.

    “That the signatories to the account warehousing the sum of $1, 426, 175.14 million USD, sought to be forfeited are at large and are making frantic efforts to dissipate the funds electronically. And based on our investigation findings, the funds sought to be forfeited are proceeds of unlawful activities of (GE) and his cronies. And that it is in the interest of justice to grant this application.”

    Justice Faji, after granting the orders, adjourned the matter to June 25, for a hearing of the final forfeiture of the money.

    Read Also: JUST IN: Prosecution opens trial in cases against Emefiele, Sirika

    Justice Yelim Bogoro had on May 25, 2024, ordered interim forfeiture of $4.7m, N830m, and some property assets linked to Emefiele.

    The monies forfeited to the Federal Government in the interim were said to be warehoused in First Bank; Titan Bank and Zenith Bank, being operated by Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd; Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd and TIL Communication Nigeria Ltd.

    The properties forfeited in the interim were: 94 Units of an 11-floor building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, iKoyi, Lagos; AM Plaza, 11-floor office space, situated on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos, Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B. Lot twin completed property in Lakes Estate, Lekki, Lagos.