Court Sets Date For Ruling On Final Forfeiture Of $2.045 Million And Properties Tied To Emefiele

Court Sets Date For Ruling On Final Forfeiture Of $2.045 Million And Properties Tied To EmefieleThe Federal High Court in Lagos has scheduled a ruling for November 1, 2024, regarding the Economic and Financial Crimes Commission’s (EFCC) application for the final forfeiture of $2.045 million, seven prime properties, and shares linked to former Central Bank of Nigeria Governor Godwin Emefiele.

On that same date, the court will also consider Emefiele’s formal request for a stay of proceedings.

On August 15, 2024, the court authorized the EFCC to take temporary custody of Emefiele’s assets. During this ruling, the court instructed the EFCC to publish the interim forfeiture order, allowing anyone with an interest in the funds to contest the forfeiture to the federal government.

During the resumed hearing on October 11, EFCC counsel Rotimi Oyedepo (SAN) presented the application for the final forfeiture of the $2.045 million and associated shares, claiming there was no contest from the interested party.

In opposition, Olalekan Ojo, representing Emefiele, argued that his client demonstrated a valid case against the final forfeiture, urging the court to reject the EFCC’s application. Ojo reiterated his arguments in a written address, asserting that the application should not be granted. Earlier in the proceedings, the court had declined to stay the case.

Emefiele’s legal team requested a stay of proceedings until the Court of Appeal addressed his appeal against the earlier temporary forfeiture order. However, Justice Deinde Dipeolu ruled that interested parties could approach the Court of Appeal based on the trial court’s decisions.

The court clarified that an appeal arises from a trial court’s ruling, but in this instance, the court had yet to make any decisions on the substantive issues at hand. Justice Dipeolu subsequently dismissed Ojo’s request for a stay of proceedings.

In the previous court session, Ojo had called for a stay of the case pending the appeal’s outcome, stating, “We urge your lordship to stay proceedings pending the hearing and determination of the appeal court to avoid judicial rascality.”

In response, Oyedepo objected, emphasizing that no application from Emefiele had been ruled upon that would justify an appeal. He argued that the former CBN governor’s attempt to rush to the Court of Appeal was premature, asserting that the case file was simply returned to the administrative judge due to the court’s annual vacation ending on the next adjourned date.

Oyedepo further maintained that Emefiele’s appeal should not obstruct proceedings in the current matter, as the necessary leave from the court was not sought. He pointed out that court rules require permission when appealing on grounds of mixed fact and law.

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