Court Orders Another Forfeiture of $1.4m Linked to Emefiele

Justice Olayinka Faji in his ruling on Thursday agreed with the Economic and Financial Crimes Commission (EFCC) that the sum was proceeds of unlawful activities and must be forfeited to the federal government.

Through its counsel, Mrs Bilkisu Bahari-Bala, the EFCC told the court that the sum of $1,426,175.14 was found in the account of Donatone Limited at Titan Trust Bank (Account No. 2000000500) and that investigations confirmed the money was linked to fraudulent activities.

An affidavit deposed by an EFCC investigator, Mr David Jayeoba, revealed that intelligence reports led to the discovery of funds concealed in Donatone Limited’s account.

According to Mr Jayeoba, the investigation uncovered a scheme involving Mr Emefiele and his associates, including Donatone Limited directors, Mr Uzeobo Anthony and Mr Adebanjo Olurotimi, who allegedly helped hide and disguise the proceeds of the illicit activities.

In documents put before the court, Mr Jaiyeoba also disclosed “that investigation revealed that Uzeobo Anthony and Adebanjo Olurotimi men are some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s Governor, Godwin Emefiele.

“That both men were procured by Emefiele and used to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.

“That both men used Donatone Ltd to collect bribes and gratification on behalf of Emefiele to get approval for accessing Forex.”

Recall that Justice Faji had previously issued an interim forfeiture order on May 30, 2024, before ruling on the permanent forfeiture of the funds.

In November 2024, the same court in Lagos ordered the forfeiture of the sum of $2.045 million, seven choice landed properties and share certificates linked to the former CBN Governor.