The Federal High Court sitting in Lagos has ordered the forfeiture of the sum of $1,426,175.14 fraud linked by the Economic and Financial Crimes Commission (EFCC) with the embattled former governor of the Central Bank, Godwin Emefiele.
Justice Ayokunle Faji in his judgment on Thursday held that the $1.4m is a proceed of unlawful activities and ought to be forfeited to the federal government of Nigeria.
Consequently, the judge ordered that the sum be forfeited to the federal government, noting that the EFCC had proved the unlawfulness of the said funds.
The Commission, through its counsel Bilkisu Bahri-Bala, had told judge that the $1.4m was warehoused in the account of Donatone Limited domiciled in Titan Trust Bank account number 2000000500, which sums had been established to be proceeds of unlawful activities.
According to an affidavit deposed to by David Jayeoba, an EFCC investigating officer, the Commission received Intelligence reports that led to the forfeiture proceedings.
Jayeoba said: “In the course of my investigation, the Commission received credible and direct intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account, which funds are reasonably suspected to be part of proceeds of unlawful activities.
“While investigating the monumental fraud carried out by the erstwhile Central Bank of Nigeria Governor Mr Godwin Emefiele and his Cronies, we discovered a huge amount of money warehoused and concealed in the account of (DL)domiciled in Titan Trust Bank.
“The investigation revealed that some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Mr Godwin Emefiele, are the natural persons Uzeobo Anthony and Adebanjo Olurotimi, directors of DL.
“That part of the said funds, which represent the proceeds of Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited. These directors were procured by Emefiele and used to conceal, retain and disguise funds which are the proceeds of unlawful activities.
“Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex. Emefiele used his cronies to collect bribes and gratification from various entities to get approval for accessing Forex.
“One of the entities (NP) paid a total sum of Twenty-Six Million Five Hundred and Fifty-Five Thousand Million Dollars ($26,552,000.00) into the account of (DL) domiciled in Titan Trust account number 200000”.
Justices Faji had on the 30th of May 2024 ordered the interim forfeiture of the unlawful funds.
Comments