Judge Orders Seizure Of Politician’s $3M Corruption Funds

Judge Orders Seizure Of Politician’s $3M Corruption Funds

The Federal High Court in Lagos ordered the interim forfeiture of $1,426,175.14 linked to former Central Bank of Nigeria Governor, Godwin Emefiele, on Wednesday………CONTINUE READING

Justice Ayokunle Faji instructed the Economic and Financial Crimes Commission (EFCC) to publish the interim forfeiture order in a national newspaper.

The judge stated that any interested parties must appear before him within 14 days to present reasons why the funds should not be permanently forfeited to the Federal Government.

This court order followed an ex parte application, marked FHC/L/CS/232/2024, presented by EFCC counsel, Bilikisu Buhari-Bala.

Buhari-Bala informed Justice Faji that the funds were suspected to be proceeds of Emefiele’s unlawful activities, who is currently facing three criminal trials. She cited Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006, as the basis for the forfeiture request.

EFCC investigator David Jayeoba, in an affidavit supporting the ex parte application, detailed that credible intelligence led to the discovery of the funds in a bank account.

Jayeoba alleged that between 2021 and 2022, during a forex scarcity, Uzeobo Anthony and Adebanjo Olurotimi, directors of Donatone Limited, collected bribes on behalf of Emefiele to facilitate forex approvals. Payments totaling $26,552,000 were made to Donatone’s accounts, with significant transactions occurring on specific dates in 2021 and 2022.

Jayeoba stated: “Uzeobo Anthony and Adebanjo Olurotimi used the firm to collect bribes and gratification on behalf of Godwin Emefiele to get approval for accessing forex. One of the entities (NP) paid a total of $26,552,000 into the firm’s account at Titan Trust Bank.”

The funds were allegedly laundered through a foreign account in Mauritius before being returned to Nigeria. As of now, the account balance is $1,426,175.14, which the EFCC seeks to forfeit as proceeds of unlawful activities.

Jayeoba also noted that the international entities sourcing forex were pressured to part with substantial funds to access forex during the period. The signatories to the account holding the $1,426,175.14 are reportedly at large and attempting to dissipate the funds electronically.

“It is in the interest of justice to grant this application,” Jayeoba concluded.

Justice Faji granted the interim forfeiture order and adjourned the hearing on the final forfeiture to June 25.

This forfeiture follows an earlier order by Justice Yelim Bogoro of the same Federal High Court on May 23, 2024, mandating the interim forfeiture of $4.7 million, N830 million, and properties linked to Emefiele.

Emefiele is currently facing charges related to procurement fraud, unauthorized redesign of the naira notes, and forgery of ex-President Muhammadu Buhari’s signature to allegedly move funds out of the CBN

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Source: Bushradiogist