Justice Ayokunle Faji, presiding over a Federal High Court in Lagos, has ordered the permanent forfeiture of $1.4 million connected to a fraud involving the beleaguered former Governor of the Central Bank of Nigeria, Godwin Emefiele.
In his ruling, Justice Faji asserted that the money was proven to be proceeds of unlawful activities and must be surrendered to the federal government.
The court sided with the Economic and Financial Crimes Commission (EFCC), which demonstrated the illegitimacy of the funds.
The EFCC, represented by counsel Bilkisu Bahri-Bala, disclosed that $1,426,175.14 was found in the account of Donatone Limited at Titan Trust Bank (Account No. 2000000500), with investigations confirming its connection to fraudulent activities.
An affidavit from EFCC investigator David Jayeoba revealed that intelligence reports led to the discovery of funds concealed within Donatone Limited’s account.
Jayeoba indicated that the investigation unveiled a scheme involving Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped to hide and conceal the proceeds of illicit activities.
Between 2021 and 2022, during a period of foreign exchange scarcity in Nigeria, many international companies faced difficulties accessing forex.
The EFCC claimed that Emefiele and his associates solicited bribes and kickbacks from businesses in need of forex approvals.
One such entity, referred to as (NP), purportedly deposited $26,552,000 into Donatone Limited’s account at Titan Trust Bank.
Justice Faji had previously issued an interim forfeiture order on May 30, 2024, prior to his ruling on the permanent forfeiture of the funds.
