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Court Orders Final Forfeiture Of N12bn Assets Linked To Emefiele

Court Orders Final Forfeiture Of N12bn Assets Linked To Emefiele
A federal high court in Lagos has approved the final forfeiture of properties valued at N12.18 billion that were allegedly linked to Godwin Emefiele, a former governor of the Central Bank of Nigeria (CBN).

Gatekeepers News reports that the Economic and Financial Crimes Commission (EFCC) filed a motion resulting in the court’s decision to finalize the forfeiture of the properties.

These properties, situated in upscale areas of the Federal Capital Territory (FCT), were initially subjected to interim forfeiture by Judge Chukwujekwu Aneke on June 5.

Aneke instructed the anti-graft agency to publish the order in a national newspaper, allowing any concerned party to present reasons why the final order of forfeiture should not be granted.

The EFCC categorised the properties into two schedules, A and B.

The judge said: “Having carefully considered the application and submission of counsel, it is hereby ordered as follows: that a final forfeiture order of this honorable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities.

“That a final forfeiture order of this Honourable Court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule B herein which properties were traced to have been acquired with proceeds of unlawful activities.”

Emefiele is facing multiple counts of fraud and abuse of office.

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