A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. Justice Olayinka Faji ruled on Thursday, March 6, that the funds, found in the account of Donatone Limited at Titan Trust Bank, were proceeds of unlawful activities and must be forfeited to the Federal Government.
The Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Bahari-Bala, disclosed that investigations revealed the money was connected to fraudulent activities. EFCC investigator David Jayeoba stated in an affidavit that intelligence reports led to the discovery of the concealed funds. He identified Uzeobo Anthony and Adebanjo Olurotimi as key figures involved in hiding and disguising the funds on behalf of Emefiele.
The EFCC alleged that Donatone Limited was used to collect bribes and gratification to secure forex approvals for Emefiele. Justice Faji had initially issued an interim forfeiture order on May 30, 2024, before granting the final forfeiture of the $1.4 million. This ruling is part of ongoing investigations into financial misconduct linked to Emefiele’s tenure as CBN governor.
