Court orders final forfeiture of $1.4m linked to Emefiele

The forfeiture suit was filed by the Economic and Financial Crimes Commission (EFCC).

Justice Ayokunle Faji in his judgment, held that the sum formed proceeds of unlawful activities and ought to be forfeited to the Federal Government.

The court, consequently ordered forfeiture of same.

The court held that the anti graft agency had proved its case, establishing unlawfulness of the said funds.

The EFCC counsel, Mrs Bilkisu Bahri-Bala, had told the court that the sum was lodged in the account of Donatone Ltd domiciled in Titan Trust Bank.

She had argued that the funds had been established to be proceeds of unlawful activities.

In an affidavit deposed to by one David Jayeoba, an EFCC investigating officer, he said that the commission received Intelligence report on the crime.

According to him, this led to the filing of the forfeiture proceedings.

“in the course of my investigation, the commission received intelligence which led to tracing of the funds warehoused in the Donatone Ltd .

“While investigating the monumental fraud, we discovered a huge amount of money warehoused and concealed in the account of the company, domiciled in Titan Trust Bank.

“Part of the said funds, which represent the proceeds of Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited,” he avverred

According to the deponent, directors were procured by Emefiele, to conceal, retain and disguise funds which are proceeds of unlawful activities.

Justice Faji had on May 30, 2024, ordered interim forfeiture of the funds, which final forfeiture the court ordered on Thursday. (NAN)