The Federal High Court in Lagos has ordered the final forfeiture of a warehouse and 54 steel containers owned by former CBN Governor Emefiele to the federal government.
The property, situated on 1.925 hectares of land along the Lagos-Ibadan expressway in Magboro, Ogun State, was linked to the former CBN Governor, Godwin Emefiele, and is suspected to be proceeds of unlawful activities.
Justice Deinde Dipeolu ruled after the Economic and Financial Crimes Commission (EFCC) confirmed no individual or organization claimed ownership of the assets despite public notices.
The EFCC’s counsel, Rotimi Oyedepo (SAN), argued the case under relevant constitutional and statutory provisions, including the Advance Fee Fraud and Other Fraud Related Offences Act.
Justice Dipeolu upheld the application, stating:
“A final forfeiture order is hereby granted forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which are reasonably suspected to have been acquired with proceeds of unlawful activities.”
This marks a significant step in the Federal Government’s effort to recover assets tied to alleged corruption.