EFCC secures major victory as the he Federal High Court has handed down a significant ruling, ordering the forfeiture of multibillion properties and funds linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. This landmark decision was made by Justice Yellim Bogoro on Thursday, following an ex-parte application by the Economic and Financial Crimes Commission (EFCC). The properties and funds in question were found to be warehoused in various banks operated by different companies and individuals.
The EFCC had approached the court seeking an interim forfeiture of the properties and funds, citing Section 17 of the Advance Fee Fraud and other Fraud Related Offence Act, 2006, Section 44(2)(b) of the Constitution, and the court’s inherent jurisdiction. This ruling marks a major victory for the EFCC in its fight against corruption and money laundering, and serves as a warning to those who engage in illicit financial activities. The forfeiture of Emefiele’s assets is a significant step towards recovering illegal wealth and promoting financial transparency in Nigeria.
Former CBN Governor Emefiele’s Properties Forfeited to Federal Government
The federal government has taken possession of several properties previously owned by former CBN Governor, Godwin Emefiele, following a court order. Among the forfeited properties is an 11-storey building under construction at 2, Otunba Elegushi 2nd Avenue (formerly Club Road), Ikoyi, Lagos, comprising 94 units. Another notable property is AM Plaza, an 11-storey office space located at 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.
Other properties forfeited include Imore Industrial Park 1, Esa Street, Imoore Land, Oriade LCDA, Amuwo Odofin LGA, Lagos, and Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos. Additionally, two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B, Lot Twin Completed property Lakes Estate, Lekki, Lagos, have also been forfeited to the federal government. These properties are valued at millions of naira and are a significant addition to the federal government’s assets.
Former CBN Governor, Godwin Emefiele’s Funds Forfeited to Federal Government
The federal government has secured a significant victory in its fight against corruption, with the forfeiture of millions of dollars and naira traced to former CBN Governor, Godwin Emefiele. The monies forfeited to the federal government in the interim include a staggering $4.72 million and N830.88 million. These funds were discovered to be warehoused in various banks operated by several companies and individuals, including 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 Economic and Financial Crimes Commission (EFCC) had traced the funds to various accounts and obtained an order to freeze them pending the conclusion of its investigation. This move marks a significant step towards recovering illegal wealth and promoting financial transparency in Nigeria. The forfeiture of these funds is a testament to the EFCC’s dedication to fighting corruption and ensuring that those who engage in illicit financial activities are held accountable.
EFCC Investigates Emefiele for Money Laundering and Fraud
The Economic and Financial Crimes Commission (EFCC) has been conducting a thorough investigation into allegations of money laundering and fraud against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and his associates. The commission has been tracing the properties and funds linked to Emefiele, uncovering a complex web of illegal transactions and money laundering activities.
The EFCC’s investigation has revealed that the properties and funds were acquired through illegal means, including fraud and money laundering. The commission has identified various individuals and companies linked to Emefiele, who were used to facilitate the illegal activities. The EFCC’s efforts have led to the forfeiture of millions of dollars and naira, as well as several properties, marking a significant victory in the fight against corruption and financial crimes in Nigeria.
EFCC Initiates Legal Proceedings Against Former CBN Governor, Godwin Emefiele
The Economic and Financial Crimes Commission (EFCC) took a significant step in its investigation into former CBN Governor, Godwin Emefiele, by initiating legal proceedings through an ex-parte application. The application, filed by EFCC counsel, Bilkisu Buhari and C.C Chineye, sought an interim forfeiture of the properties and funds linked to Emefiele, pending the conclusion of the investigation. This move marked a crucial step in the EFCC’s efforts to recover illegal assets and hold Emefiele accountable for his alleged crimes.
Justice Yellim Bogoro granted the EFCC’s application, ordering the forfeiture of the properties and funds to the federal government. This ruling was a major victory for the EFCC, demonstrating the commission’s commitment to fighting corruption and recovering illegal assets. The forfeiture of Emefiele’s properties and funds serves as a warning to others who engage in illicit financial activities, and demonstrates the effectiveness of the EFCC’s efforts to combat financial crimes in Nigeria.
EFCC Secures Major Victory in Emefiele Case: A Win Against Corruption and Money Laundering
The forfeiture of Emefiele’s properties and funds is a significant victory for the EFCC in its fight against corruption and money laundering. The commission’s efforts to trace and recover illegal assets are commendable, and this order will serve as a deterrent to others who engage in illegal activities. The EFCC’s dedication to combating financial crimes has led to the recovery of millions of dollars and naira, as well as several properties, marking a significant milestone in the fight against corruption in Nigeria.
The case is a reminder that the law will catch up with those who engage in corrupt practices, and it is only a matter of time before they face justice. Emefiele’s forfeiture is a testament to the EFCC’s unwavering commitment to holding those in power accountable for their actions. This ruling sends a strong message to corrupt individuals and groups, warning them that their illegal activities will not go unpunished. The EFCC’s success in this case is a beacon of hope for a corruption-free Nigeria, where the rule of law reigns supreme.
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