A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to ex-CBN governor Godwin Emefiele. The EFCC traced the funds to Donatone Limited, alleging they were proceeds of unlawful activities. The ruling permanently transfers the money to the Nigerian government amid ongoing corruption investigations.
A Federal High Court in Lagos has ruled that $1.4 million traced to Donatone Limited, a company allegedly linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, must be permanently forfeited to the Nigerian government.
The Economic and Financial Crimes Commission (EFCC) had filed a motion for the forfeiture, alleging that the funds were proceeds of illicit activities. According to the agency’s findings, the money was initially part of a larger sum moved through a foreign account before being funneled back into Nigeria under suspicious circumstances. The EFCC argued that if the funds were not seized, they could be electronically transferred beyond recovery.
During the hearing, the court noted that no opposition was filed against the forfeiture request. The judge, Ayokunle Faji, ruled in favor of the EFCC, emphasizing that any individual or entity laying claim to the funds must provide proof of their legal origin.
Following the judgment, the EFCC stated that this ruling is a step forward in its ongoing efforts to combat financial crimes in Nigeria. However, representatives of Donatone Limited have disputed the allegations, insisting that the company’s transactions were legitimate.
With this ruling, the $1.4 million is now officially under the custody of the federal government, adding to a growing list of forfeited assets in high-profile corruption cases. The case underscores the continued scrutiny of former government officials and their financial dealings.
