Federal High Court in Lagos has scheduled November 1, 2024, as the date for ruling on the Economic and Financial Crimes Commission’s (EFCC) application for the final forfeiture of $2.045 million, seven choice landed properties, and shares linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Gatekeepers News reports that the court will also rule on the formal application filed by Emefiele for a stay of proceedings on the same date.
Previously, on August 15, 2024, the court had granted the EFCC temporary custody of the assets and directed them to publish the order of interim forfeiture for any interested party to show cause why it should not be finally forfeited to the FG.
During the recent hearing, the EFCC’s counsel moved an application for the final forfeiture of the sum of $2.045 million and share certificates, which was not contested by the interested party.
In response, Emefiele’s counsel urged the court to refuse the application, stating that the interested party had shown in a balance of probability that the court should not grant the final forfeiture of the properties.
In an earlier proceeding, the court had refused to stay further proceedings in the suit. Emefiele had requested the judge to stay proceedings pending the hearing of an appeal he filed before the Court of Appeal seeking to nullify the temporary forfeiture order. However, the judge ruled that interested parties had the right to approach the Court of Appeal, contingent on the trial court’s decision, and dismissed the oral application seeking to stay the court’s proceedings.
At the last sitting of the court, Emefiele’s counsel had urged the court to stay further proceedings in the case pending the determination of the banker’s appeal.
He said, “We’re urging your lordship to stay proceedings pending the hearing and determination of the appeal court in order to avoid judicial rascality.”
Counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Oyedepo (SAN), had, however, objected insisting that no application from Emefiele was taken and ruled on that crystallised to an appeal.
Oyedepo said: “My lord how can the defendant in this case rush to the Court of Appeal because the (Federal High) Court returned the (case) file to the administrative judge for assignment, owing to the fact that the annual vacation of the court ends on the next adjourned date?
“I submit with due respect that the defendant just went to dump mere documents in registry of the Appeal Court. Therefore, I urge the court to hold that there is no appeal.”
Oyedepo had also argued that the former CBN governor’s appeal cannot stop the proceedings in this matter because the leave of the court was not sought, as the rule of court has made it mandatory when it is an appeal filed on the ground of mixed fact and law.
