A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million allegedly linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, ruling that the sum was the proceeds of unlawful activities.
Justice Olayinka Faji, delivering the judgment on Thursday, March 6, directed that the funds be forfeited to the Federal Government. The Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Bahari-Bala, revealed that $1,426,175.14 was found in Donatone Limited’s account at Titan Trust Bank (Account No. 2000000500) and traced to fraudulent transactions.
According to an affidavit filed by EFCC investigator David Jayeoba, intelligence reports led to the discovery of the hidden funds. He disclosed that two individuals, Uzeobo Anthony and Adebanjo Olurotimi, played key roles in concealing the money suspected to be proceeds of Emefiele’s unlawful activities while in office.
The EFCC alleged that both men were recruited by Emefiele to help hide illicit funds, using Donatone Ltd to collect bribes and facilitate forex approvals.
Justice Faji had initially issued an interim forfeiture order on May 30, 2024, before granting the final forfeiture on Thursday, sealing the government’s claim to the funds.