Emefiele, EFCC’s Counsel Battle Over Final Forfeiture of Properties, Court Fixes Nov 1 for Ruling

Wale Igbintade

Justice Deinde Dipeolu of the Federal High Court in Lagos has fixed November 1, 2024 to rule on the application by former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, challenging the jurisdiction of the court to entertain the forfeiture proceedings of the $2.045 million, seven choice landed properties and shares allegedly linked to him.
The court will also rule on the application by the Economic and Financial Crimes Commission (EFCC) praying the court for final forfeiture of the $2.045 million, seven choice landed properties and shares.
The court had on August 25, 2024, authorised the EFCC to temporarily take custody of the cash sum and the properties.
In granting the application, the court had directed the EFCC to publish the order of interim forfeiture for any person interested in the funds to show the cause why it should not be finally forfeited to the federal government.
At the resumed hearing the matter yesterday, Rotimi Oyedepo SAN, counsel for the EFCC, moved an application for the final forfeiture of the sum of $2.045m, as well as share certificates, which he said was not contested by the interested Party.
On the properties sought to be forfeited, Oyedepo submitted that the party interested failed to connect his lawful earnings from Zenith Bank and the Central Bank of Nigeria (CBN) to the acquisition of the properties sought to be forfeited.

He stated that  the totality of the amount the party interested lawfully earned and saved before the assumption of office as CBN Governor as declared by him was not used for the acquisition of the properties sought to be forfeited.

Oyedepo further adopted his written address dated August 29, 2024 and urged the court to order final forfeiture of the properties to the Federal Government.

In his opposition, Mr. Olalekan Ojo, counsel to the interested Party (Emefiele), urged the court to hold that the interested party has shown in a balance of probability that court ought not to grant final forfeiture of the properties.

He adopted his written address, and urged the court to refuse the application.

Earlier, in his application challenging the jurisdiction of the court to continue with the forfeiture proceedings, Olalekan Ojo, SAN, urged the court to stay further  proceedings pending final determinations of the charges filed by the EFCC against Emefiele before the Federal High Court in Abuja and at the Lagos State High Court.

Citing several legal authorities to buttress his argument, Ojo submitted that the decision of the court will affect ongoing  trials at the Federal High Court, Abuja and the Lagos State high court respectively.

However, Oyedepo in his reply urged the to discountance the argument, adding the the courts have held on several instances that the pendance of a charge, will not prevent the court from making final forfeiture of properties reasonably suspected to be proceeds of unlawful activity

Justice Akintayo Aluko had on August 15 ordered an interim forfeiture of $2.045 million, and some landed properties allegedly linked to Emefiele following an ex-parte application by the Economic and Financial Crimes Commission (EFCC).

The judge granted the forfeiture order, after taking hearing EFCC counsel, Mr. Rotimi Oyedepo (SAN).

Other properties ordered to be forfeited by the court include: two fully detached duplexes of identical structures, lying being and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos and a four-bedroom duplex at 12a Probyn Road, Ikoyi.