The Federal High Court, Lagos will on November 1, 2024 rule on the application filed by the Economic and Financial Crimes Commission (EFCC) for final forfeiture of the $2.045 million, seven choice landed properties of the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Justice Deinde Dipeolu fixed the date after hearing the EFCC application and the interested parties. The court will also rule on the application filed by Emefiele challenging the jurisdiction of the court to entertain the forfeiture proceedings.

The court had on August 25, 2024, ordered the EFCC to temporarily take custody of the cash sum of $2.045million, seven choice landed properties and shares linked to Emefiele.

While granting the EFCC application, the court had also ordered the anti-graft agency to publish the order of interim forfeiture for any person interested in the funds to show why it should not be finally forfeited to the FG.

However, when the case came up for hearing, the EFCC counsel, Mr Rotimi Oyedepo (SAN), moved the application for the final forfeiture as well as share certificates, which he said was not contested by the interested party.

Oyedepo argued that the respondent failed to connect his lawful earnings from Zenith Bank and the CBN to the acquisition of the properties sought to be forfeited.

Oyedepo adopted his written address dated August 29, 2024, and urged the court to order final forfeiture of the properties to the FG. However, counsel to Emefiele, Mr. Olalekan Ojo (SAN), vehemently opposed the submission of EFCC counsel.

He urged the court to hold that the interested party has shown in a balance of probability that the court ought not to grant final forfeiture of the properties. He adopted his written address and urged the court to refuse the application.