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Emefiele-Linked Luxury Properties Worth N12.18b Forfeited to Federal Government

Following a motion filed and argued by the Economic and Financial Crimes Commission (EFCC) counsel Chineye Okezie, Justice Chukwujekwu Aneke ordered the final forfeiture of luxury properties linked to the former governor of the Central Bank of Nigeria, CBN, Godwin Emefiele. 

This decision builds upon a June 5th ruling where the judge, swayed by EFCC counsel Mr. Rotimi Oyedepo (SAN), had already approved an interim forfeiture of the assets. 

The EFCC suspects Emefiele of acquiring these luxury properties through proxies using illicit funds. 

They have implicated two current and one former CBN staff member as accomplices in the alleged fraud. 

Court documents identify these individuals as Obayemi Oluwaseun Teben and Akomolafe Adebayo, working alongside former CBN staff Olubunmi Makinde and others. 

The properties in question are primarily situated in affluent neighborhoods within Abuja’s Federal Capital Territory.

Justice Aneke ordered the EFCC to publish the order in a national newspaper for any interested party to show cause why the final order of forfeiture should not be made.

The judge adjourned for hearing of the motion for final forfeiture.

Upon resumption on June 21, no party appeared in court to contest the judge’s interim order and Chineye Okezie moved her motion for permanent forfeiture.

Justice Aneke, after reading a 41-paragraph affidavit deposed to by an EFCC Investigating Officer, Michael John Idoko, the 19 Exhibits attached, a Written Address signed by Okezie, and after hearing Okezie’s motion, granted the application.

The properties were listed by the EFCC in two schedules, A and B.

The judge said: “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.”

They include shops and apartments at Cadastral Zone Maitama and Wuse.

For Schedule B, Justice Aneke added: “That a final forfeiture order of this Honourable Court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”

The properties include lands and apartments which were paid for on behalf of Oluwaseun at a total value of N1.04billion.

According to the affidavit, Obayemi Oluwaseun Teben and Akomolafe Adebayo working with Olubunmi Makinde “used their positions and Influence as CBN staff to secure retail and Special allocation of Foreign Exchange to different companies in exchange for kickbacks.

“That OLUBUNMI MAKINDE is the link between OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO and the various companies applying for the purchase of foreign exchange.

“That OBAYEMI OLUWASEUN TEBEN and AKOMOLAFE ADEBAYO as staffs of the Central Bank of Nigeria have access to the bidding processes and bidding Data of companies who have applied for the approval of form Ms to the CBN through their various commercial banks.”

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