GMART News
Crime

Court Orders Emefiele’s Complete Forfeit Of N12B Property To Federal Government

The Federal High Court in Lagos have ordered a complete forfeit of properties worth over N12 billion belonging to former CBN Governor, Emefiele to the Federal Government 

The Properties located at the upscale of Abuja were reportedly acquired through fraudulent and unlawful activities 

The judge ruled that the properties were traced and reasonably suspected to have been acquired with proceeds of unlawful activities

“Having carefully considered the application and submission of counsel, it is hereby ordered as follows: – that a final forfeiture order of this honourable court is hereby made forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which were traced and reasonably suspected to have been acquired with proceeds of unlawful activities,” the judge stated.

Recall that The Economic and Financial Crime Commission (EFCC) arrested and charged the Former CBN Governor, Godwin Emefiele to court for fraud and Money Laundering

Two current and one former CBN staff, Obayemi Oluwaseun Teben, Akomolafe Adebayo, and Olubunmi Makinde, were identified as Emefiele’s accomplices in the alleged fraud.

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