Court to rule on Emefiele’s forfeiture case November 1
The Federal High Court in Lagos has scheduled November 1, 2024, to determine the final forfeiture of $2.045 million, seven properties, and share certificates linked to the former Governor of the Central Bank of Nigeria, Godwin Emefiele. The Economic and Financial Crimes Commission (EFCC) is seeking a permanent seizure of these assets, alleging they were obtained through illicit means.
During the court session, EFCC counsel Rotimi Oyedepo (SAN) moved an application for the final forfeiture, stating that no valid objections were raised by any interested parties. However, Emefiele’s lawyer, Olalekan Ojo, argued that his client had provided sufficient evidence to oppose the forfeiture and urged the court to deny the EFCC’s application.
This case follows an interim order granted by the court in August, allowing the EFCC temporary custody of Emefiele’s assets. The court had instructed the EFCC to publish the order, enabling any interested individuals or entities to present reasons why the assets should not be permanently forfeited to the federal government.
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At Friday’s hearing, Emefiele’s legal team also sought a stay of proceedings, citing an appeal lodged with the Court of Appeal challenging the interim order. Emefiele’s counsel argued that further proceedings should be paused until the appeal is resolved. However, Justice Deinde Dipeolu dismissed the request for a stay, explaining that the appeal was filed prematurely, as the court had yet to make a final decision on the matter.
The EFCC contended that the appeal could not suspend the forfeiture proceedings, arguing that Emefiele’s legal team had not obtained the necessary leave to appeal on mixed grounds of fact and law. The EFCC further asserted that the appeal was procedurally defective.
The court’s decision on November 1 will determine whether the assets linked to Emefiele will be permanently forfeited to the Nigerian government.
Written by Sakinat Musa Abubakar, Editor at Neptune Prime
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