The Supreme Court on Friday affirmed the final forfeiture of seven landed properties, $2.045 million and share certificates linked to a former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Saulawa, the apex court set aside the judgment of the Court of Appeal and restored the earlier decision of the Federal High Court in Lagos, which had held that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
The judgment, read on behalf of the panel by Justice Mohammed Idris, upheld the forfeiture order made by Justice Deinde Dipeolu of the Federal High Court on November 1, 2024, in Suit No. FHC/L/MISC/500/24.
Following the trial court’s decision, Emefiele had challenged the judgment before the Court of Appeal, Lagos Division, which overturned the forfeiture order.
The appellate court had held that interested parties claiming ownership of some of the assets were denied fair hearing and consequently ordered a fresh hearing of the matter.
Dissatisfied with the Court of Appeal decision, the Economic and Financial Crimes Commission approached the Supreme Court, urging it to restore the judgment of the Federal High Court.
The apex court agreed with the anti-graft agency and reinstated the forfeiture order, effectively vesting the assets in the Federal Government.
The forfeited assets include a fully detached duplex of identical structures at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres covered by Survey Plan No. DS/LS/340 on Oyinkan Abayomi Drive, formerly Queens Drive, Ikoyi, Lagos; a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi; and a four-bedroom duplex at 12A Probyn Road, Ikoyi.
Others are an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of undetached apartments on a 2,457.60-square-metre plot at No. 8A Adekunle Lawal Road, Ikoyi; and a full duplex with all its appurtenances on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.
The Supreme Court also affirmed the forfeiture of $2,045,000 and share certificates belonging to Queensdorf Global Fund Limited to the Federal Government.
The final forfeiture order was originally granted after the EFCC filed an application through its counsel, the Director of Public Prosecution, Rotimi Oyedepo (SAN), pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
The application, brought as an action in rem, sought the final forfeiture of assets reasonably suspected to have been acquired with proceeds of unlawful activities.
The application was supported by an affidavit deposed to by an EFCC investigating officer, David Jayeoba, who stated that investigations revealed that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
In its originating motion, the commission urged the court to grant the final forfeiture under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, contending that the assets were liable to forfeiture because they were reasonably suspected to have been acquired through unlawful means.
Justice Dipeolu granted the application on November 1, 2024, after holding that the commission had established the legal threshold required for civil forfeiture proceedings.
The case is one of several proceedings instituted against Emefiele since his removal as CBN governor in 2023.
The former apex bank chief is facing multiple criminal charges in Abuja and Lagos bordering on alleged procurement fraud, abuse of office and other financial crimes, allegations he has consistently denied.
He has also been the subject of several interim and final forfeiture proceedings initiated by the EFCC as part of its asset recovery drive.
punch.ng
FOLLOW US ON:
