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A Federal High Court in Lagos has ordered the permanent confiscation of properties worth over N12 billion allegedly linked to Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN).
This comes after an earlier court order granted temporary control of the assets to the Economic and Financial Crimes Commission (EFCC).
The EFCC accused Emefiele of using proxies to purchase high-value properties, especially those located in affluent areas of Abuja, with funds allegedly originating from fraudulent activities.
The anti-graft agency presented evidence during the trial process, although details regarding the specific nature of the alleged fraud remain confidential.
Chukwujekwu Aneke, the judge, had ordered the temporary confiscation of the property on June 5.
The property is located in an upscale area of the federal capital territory (FCT).
READ ALSO: Court orders interim confiscation of N830 billion, $4.7 million in cash and property suspected to belong to Emefiele
Aneke ordered the KPK to publish the confiscation order in a national newspaper so that interested parties could show reasons why the confiscation order should not be carried out.
The property is listed by the EFCC under two schedules — A and B.
The judge said: “After carefully considering the pleadings and submissions of counsel, it is hereby ordered as follows: that a final confiscation order of this honorable court is hereby made to confiscate to the Federal Government of Nigeria, the properties contained in Schedule A hereto which which is traceable and reasonably suspected to have been obtained as a result of unlawful activities.
“That the final confiscation order of this Honorable Court is hereby made to hand over to the Federal Government of Nigeria, the properties listed in Schedule B where the said properties are traced to have been obtained with the proceeds of unlawful activities.”
Emefiele, who has not commented publicly on the court decision, faces a separate criminal trial. He previously denied any wrongdoing.
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