Court Orders Permanent Forfeiture of $1.4 Million Linked to Former CBN Governor
In a landmark ruling, the Federal High Court in Lagos has ordered the permanent forfeiture of $1.4 million allegedly linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN). The judgment, delivered on Thursday by Justice Ayokunle Faji, affirms that the Economic and Financial Crimes Commission (EFCC) successfully proved the funds were proceeds of unlawful activities.
According to EFCC’s counsel, Bilkisu Bahri-Bala, investigations led to the discovery of $1,426,175.14 in an account belonging to Donatone Limited at Titan Trust Bank. The anti-graft agency presented evidence linking the funds to fraudulent dealings.
An affidavit filed by EFCC investigator David Jayeoba detailed how intelligence reports led to the discovery of the money. The commission alleged that Emefiele used Donatone Limited and its directors, Uzeobo Anthony and Adebanjo Olurotimi, to launder illicit funds.
“Investigations revealed that Uzeobo Anthony and Adebanjo Olurotimi played key roles in the fraudulent concealment of funds suspected to be proceeds of unlawful activities linked to the former CBN Governor, Godwin Emefiele,” the affidavit stated.
The EFCC further alleged that both men were recruited by Emefiele to disguise, retain, and channel illicit funds through Donatone Ltd. The company was reportedly used to collect bribes and illegal payments in exchange for forex approvals.
The court had initially issued an interim forfeiture order on May 30, 2024. With this latest ruling, the funds have now been permanently forfeited to the federal government, marking another step in the ongoing anti-corruption crackdown.
