Justice Ayokunle Faji of aFederal High Court, Lagos, today, ordered the final forfeiture of $1.4 million USD linked to fraud involving the embattled former Governor of the Central Bank of Nigeria, Godwin Ifeanyi Emefiele.
Justice Faji made final forfeiture order of the mentioned funds, while ruling in a suit brought before I’m by the Economic and Financial Crimes Commission (EFCC), stated that the sum was proven to be proceeds of unlawful activities and must be forfeited to the federal government.
The judge ruling established the the illegitimacy of the mentioned funds.
The EFCC, through its counsel, Bilkisu Buhari-Bala, had told the court that $1,426,175.14 was found in the account of Donatone Limited domiciled at Titan Trust Bank’s account No. 2000000500, and investigations confirmed the money was linked to fraudulent activities.
The EFCC in an affidavit deposed to by David Jayeoba, an EFCC investigator revealed that intelligence reports led to the discovery of funds concealed in Donatone Limited’s account.
Jayeoba in the affidavit stated that the investigation uncovered a scheme involving Emefiele and his associates, including Donatone Limited’s directors, Uzeobo Anthony and Adebanjo Olurotimi, who allegedly assisted him in hiding and disguising the proceeds of illicit activities.
The deponent further stated that between 2021 and 2022, when foreign exchange was scarce in Nigeria, many international companies struggled to access forex.
The EFCC alleged that Emefiele and his associates collected bribes and kickbacks from businesses seeking forex approvals. Adding that such entity, identified as (NP), reportedly paid $26,552,000 into Donatone Limited’s account at Titan Trust Bank.
Justice Faji had on May 30, 2024, ordered an interim forfeiture order, which was never contested or challenged before today’s final forfeiture of the funds.
