Emefiele fights back, challenges seizure of assets worth more than $2 million

Former Central Bank of Nigeria (CBN) governor Godwin Emefiele has filed an application to challenge the seizure of his assets by the Federal Government by the court.

The move comes after a series of court orders were obtained by the Economic and Financial Crimes Commission (EFCC) since he was removed from office, resulting in the loss of Emefiele’s funds and land assets.

The last seizure order was obtained on August 12, 2024, when Justice Akintayo Aluko ordered the provisional seizure of $2.045 million and several properties linked to Emefiele.

The properties provisionally seized include two duplexes in Lekki Phase 1, Lagos; undeveloped land in Ikoyi; a bungalow and a four-bedroom duplex in Ikoyi; an industrial complex under construction in Agbor, Delta State; and several other properties and share certificates linked to Emefiele.

However, Emefiele’s legal counsel, Mr Olalekan Ojo (SAN), has filed an application to stay further forfeiture proceedings, arguing that the law states that if such an application is filed, the matter of final forfeiture must be stayed.

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“The law states that when such an application is filed, the matter of forfeiture of property must be stayed,” Ojo said. “My client’s application, which is an interlocutory application, must be heard and decided before further proceedings.”

EFCC prosecution counsel, Mrs. Bilikisu Buhari-Bala, confirmed compliance with the court order and acknowledged receipt of Emefiele’s application but asked for an adjournment to enable her respond to the application.

Justice Aluko ordered the EFCC to publish a notice of seizure in a national newspaper within 14 days, allowing interested parties to come forward and explain why the assets should not be permanently seized. The notice of seizure was published on August 28, 2024 in The PUNCH Newspaper.

Emefiele’s move to challenge the seizure of his assets is a clear indication that he will not go down without a fight.

Emefiele fights back, challenges seizure of assets worth over $2 million first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.