Emefiele should give up mansions, N830 billion, $4.7 million, and other assets

Emefiele should give up mansions, N830 billion, $4.7 million, and other assetsAn order for the temporary confiscation of $4,719,054, N830,875,611, and several properties connected to Godwin Emefiele, the former Governor of the Central Bank of Nigeria, was issued by a Federal High Court in Ikoyi, Lagos. The injunction was issued on Friday by Justice Yellim Bogoro following an ex-parte motion filed by the attorneys for the Economic and Financial Crimes Commission (EFCC), C.C. Chineye and Bilkisu Buhari, according to an article carried in Punch News on May 24, 2024.CONTINUE FULL READING>>>>>

The funds that were forfeited, held in different banks, were traced back to Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.

The properties of Emefiele that were confiscated by the federal government include a construction project of 94 units of an 11-story building located at 2, Otunba Elegushi 2nd Avenue (formerly Club) Road, Ikoyi, Lagos; AM Plaza, an 11-story office space situated at 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos; Imore Industrial Park 1, Esa Street, Imoore Land purchased with Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos; Owolomi Village, Ibeju-Lekki LGA, Lagos; and 2 properties purchased from Chevron Nigeria, Closed PFA Fund, Block B.Lot.Twin Completed Property Lakes Estate, Lekki, Lagos.

Other forfeited properties include a plot measuring 1,038.069 sqm at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; an estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, owned by Lipam Investment Services; a land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos; and a property situated at 8, Bayo Kuku Road, Ikoyi, Lagos.

The EFCC had requested the interim forfeiture of the funds and properties under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Section 44(2)(b) of the Constitution, and the court’s inherent jurisdiction.

The anti-graft agency specifically sought “an interim order to forfeit to the Federal Government of Nigeria the funds held in the accounts listed in Schedule ‘A,’ which are reasonably suspected to be proceeds of unlawful activities.” They also requested “an interim order to forfeit to the Federal Government of Nigeria the properties provided in 2nd Schedule ‘B,’ which are proceeds of unlawful activities.”

Furthermore, EFCC requested “an order to publish in any national newspaper the interim order under reliefs 1-2 above, inviting anyone interested in the properties and funds being sought for forfeiture to appear before the court within 14 days and show cause why the final order of forfeiture should not be granted in favor of the Federal Government of Nigeria.”

Justice Bogoro granted the ex-parte motion after considering the submission of the EFCC’s counsel and reviewing the motion and supporting affidavit. However, the case has been adjourned to July 2, 2024, for the motion for final forfeiture.CONTINUE FULL READING>>>>>

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