A Federal High Court sitting in Lagos, on Thursday 6 March, 2025 ordered the permanent forfeiture of $1.4 million linked to Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN).
Justice Ayokunle Faji ruled in favor of the Economic and Financial Crimes Commission (EFCC), which argued that the funds, traced to an account at Titan Trust Bank held by Donatone Limited, were proceeds of unlawful activities.
The EFCC alleged that Emefiele, alongside his associates, Uzeobo Anthony and Adebanjo Olurotimi, used the account to conceal illicit funds and facilitate bribes for foreign exchange approvals during his tenure from 2014 to 2023.
This ruling follows an interim forfeiture order issued in May 2024, marking another significant blow to Emefiele’s legal battles.
This is not the first forfeiture targeting Emefiele. In November 2024, Justice Deinde Dipeolu ordered the permanent forfeiture of $2.045 million, seven prime properties in Lagos, and share certificates of Queensdorf Global Fund Limited Trust to the Federal Government. The court found that Emefiele failed to prove these assets were acquired legitimately through his earnings from Zenith Bank and the CBN.
Additionally, in February 2025, Justice Yellim Bogoro mandated the forfeiture of $4.7 million, ₦830 million and multiple properties, alongside investments worth $900,000 linked to Emefiele’s relative, Anita Joy Omoile. These assets, held across First Bank, Titan Bank, and Zenith Bank, were deemed proceeds of illegal activities by the EFCC.
Emefiele, who was removed from office in June 2023, faces ongoing allegations of fraud and corruption, which he denies. The series of court orders reflects Nigeria’s intensified efforts to recover assets tied to alleged financial misconduct during his tenure.
As investigations continue, these forfeitures underscore the legal scrutiny surrounding one of the country’s most prominent former officials, raising questions about accountability in public office.
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