In a significant legal development, a Federal High Court in Lagos has ordered the interim forfeiture of $2.04 million and seven properties connected to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The order was issued by Justice Akintayo Aluko on Thursday, following an application by the Economic and Financial Crimes Commission (EFCC), which is investigating alleged fraudulent activities tied to Emefiele.

The properties in question consist of prime real estate in Lekki and Ikoyi, Lagos, as well as a large industrial complex under construction in Agbor, Delta State. The properties are suspected to have been acquired through illicit means, with the court deeming the interim forfeiture necessary to prevent the dissipation of assets potentially linked to unlawful activities.

Among the seized properties are two duplexes in Lekki, an undeveloped land on Oyinkan Abayomi Drive in Ikoyi, a bungalow, and several other high-value properties in Lagos. The EFCC also secured the interim forfeiture of share certificates from Queensdorf Global Fund Limited Trust, a company allegedly tied to Emefiele.

The EFCC’s counsel, Rotimi Oyedepo (SAN), argued that the assets were obtained through fraudulent activities, emphasizing the need to freeze them pending further investigation. He cited sections of the Advance Fee Fraud and Other Fraud Related Offences Act and the Nigerian Constitution to support the application.

The EFCC’s investigation has reportedly uncovered significant evidence, including title documents and company seals, suggesting that Emefiele used shell companies to launder money through property acquisitions. An EFCC investigator, Idi Musa, testified that these properties were bought under false pretenses, with some transactions allegedly facilitated by senior executives at Zenith Bank.

The court has directed the EFCC to publish the interim forfeiture order in national newspapers, giving interested parties 14 days to contest the forfeiture before it becomes permanent. The case is set for more hearing on September 5, 2024.

This ruling marks a major step in the EFCC’s ongoing investigation into Emefiele’s financial dealings, with the potential for further legal actions as more evidence comes to light.