The Federal High Court in Lagos has granted the Federal Government an order for the interim forfeiture of properties valued at N11.14 billion linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Presiding over the case, Justice Chukwujekwu Aneke issued the order following a motion filed by the Economic and Financial Crimes Commission (EFCC), represented by Senior Advocate of Nigeria (SAN), Rotimi Oyedepo. Oyedepo argued that the properties, located in prime areas of the Federal Capital Territory, Abuja, were allegedly acquired by Emefiele using proceeds from fraudulent activities.

The EFCC’s investigation revealed that Emefiele had procured these properties by proxy, implicating a former CBN staff member and two current employees as accomplices in the alleged fraud.

Justice Aneke mandated the EFCC to publish the forfeiture order in the ThisDay newspaper to notify any interested parties. They are required to present their case on why the properties should not be permanently forfeited to the government.

The court has scheduled June 21 for the hearing of the motion for final forfeiture.

This development follows a previous interim forfeiture order by the Federal High Court on May 30, 2024, concerning $1,426,175.14 linked to Emefiele. In that case, Justice Ayokunle Faji directed the EFCC to publish the order, allowing interested parties 14 days to show cause against the permanent forfeiture of the funds.

Emefiele is currently embroiled in three separate criminal trials, with allegations of financial misconduct and fraudulent activities during his tenure as CBN Governor.