Court orders permanent forfeiture of $1.4m fund linked to Emefiele 

Federal High Court sitting in Lagos has ordered the forfeiture of the sum of $1,426,175.14 fund linked by the Economic and Financial Crimes Commission (EFCC) to the embattled former Governor of the Central Bank, Godwin Emefiele.

Justice Ayokunle Faji, in his judgment, yesterday, held that the $1.4m was proceeds of unlawful activities and ought to be forfeited to the Federal Government.

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 the 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.

Justices Faji had on May 30, 2024, ordered the interim forfeiture of the unlawful fund.