A Federal High Court in Lagos has ordered the final forfeiture of a warehouse and 54 steel containers linked to former CBN governor Godwin Emefiele. The Economic and Financial Crimes Commission (EFCC) successfully argued that the assets were acquired with proceeds from illegal activities, permanently seizing them for the government.
The Federal High Court in Lagos has ruled for the permanent forfeiture of a warehouse and 54 steel containers linked to former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. The assets, located in Magboro, Ogun State, were initially seized by the Economic and Financial Crimes Commission (EFCC) after no one came forward to claim them.
On November 28, 2024, the EFCC sought the forfeiture of the warehouse, which sits on a 1.925-hectare plot along the Lagos/Ibadan motorway, as well as the 54 steel containers. The commission suspected that these assets were obtained through illicit means, a claim it argued in court. Following the request, the court granted an interim forfeiture order and instructed the EFCC to publish the ruling in a national newspaper, allowing any interested party to contest the decision.
At a subsequent hearing, EFCC counsel Rotimi Oyedepo reported that no one had come forward to challenge the forfeiture. Based on this, Justice Deinde Dipeolu granted the final forfeiture, transferring ownership of the assets to the Federal Government of Nigeria. The court’s decision is based on provisions of the Nigerian Constitution and the Advance Fee Fraud and Other Fraud-Related Offences Act.
