The Economic and Financial Crimes Commission (EFCC) has successfully obtained the final forfeiture of a warehouse belonging to former Central Bank of Nigeria (CBN) governor Godwin Emefiele.
Sources familiar with the matter reported to The Guardian that Justice Deinde Dipeolu of the Federal High Court in Lagos issued the forfeiture order on Thursday, December 19, 2024, transferring ownership of the property to the Federal Government of Nigeria.
The warehouse, located on a 1.925-hectare site at Km 8 along the Lagos-Ibadan Expressway in Magboro, housed 54 general-purpose steel containers filled with a variety of sewing machines.
Previously, on November 28, the judge ordered an interim forfeiture of the assets after the EFCC filed a request for their seizure. Following the court’s directive, the EFCC published the order in two national newspapers to allow any interested parties to contest the forfeiture. Eventually, the Commission returned to court seeking a final forfeiture.
According to sources, the court also directed that the land on which the warehouse is situated be forfeited to the government.
During the latest hearing, EFCC Counsel Rotimi Oyedepo, SAN, informed the court that the Commission had complied with the publication requirement set by the court. He cited Section 44(2)(B) of the Constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006, requesting the court to authorize the final forfeiture of the assets.
Justice Dipeolu granted the request, marking a significant achievement in the EFCC’s ongoing asset recovery efforts.
