Emefiele: Again, Court gets on former CBN governor’s case

The Federal High Court in Lagos has ordered the final forfeiture of $1.426 million linked to the former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. Justice Ayokunle Faji delivered the verdict on Tuesday, ruling that the funds be handed over to the Federal Government.

This ruling came in response to an application by the Economic and Financial Crimes Commission (EFCC). The EFCC disclosed that of the $26,555,000 received by Donatus Limited, $1,426,175.14 remained in the account, which the agency sought to forfeit. According to the EFCC, these funds are the proceeds of unlawful activities linked to Emefiele and his associates.

The court’s decision follows an earlier interim order secured by the EFCC on May 29, which temporarily froze the funds. Emefiele has been under investigation for alleged corruption since his suspension by President Bola Ahmed Tinubu’s administration in June 2023.

The EFCC’s successful application and the court’s ruling mark a significant step in the ongoing efforts to address corruption and recover illicit funds within Nigeria.