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Court orders final forfeiture of $1.4m connected to Emefiele
The Federal High Court in Lagos has ordered the forfeiture of $1,426,175.14, which the Economic and Financial Crimes Commission (EFCC) connected to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
The court ruled that the funds were proceeds of unlawful activities.
Delivering judgment yesterday, Justice Ayokunle Faji held that the money must be forfeited to the Federal Government, as the EFCC had successfully proven its illegitimate origin.
The judge’s decision followed an application filed by the EFCC, represented by its counsel, Bilkisu Bahri-Bala. The commission argued that the funds were stored in the account of Donatone Limited at Titan Trust Bank (account number 2000000500) and had been traced to illicit financial dealings.
The judge thus ordered that the sum be forfeited to the Federal Government, saying the EFCC had proved the unlawfulness of the said funds.
The commission, through its counsel, Bilkisu Bahri-Bala, had told judge that the $1.4 million was warehoused in the account of Donatone Limited domiciled in Titan Trust Bank account number 2000000500, which sums had been established to be proceeds of unlawful activities.
According to an affidavit deposed to by an EFCC investigating officer David Jayeoba, the commission received intelligence reports that led to the forfeiture proceedings.
Jayeoba said: “In the course of my investigation, the commission received credible and direct intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account, which funds are reasonably suspected to be part of proceeds of unlawful activities.
“While investigating the monumental fraud carried out by the erstwhile Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele, and his cronies, we discovered a huge amount of money warehoused and concealed in the account of (DL) domiciled in Titan Trust Bank.
“The investigation revealed that some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of the erstwhile Central Bank of Nigeria’s governor, Mr. Godwin Emefiele, are the natural persons – Uzeobo Anthony and Adebanjo Olurotimi, directors of DL.
“That part of the said funds, which represent the proceeds of Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited. These directors were procured by Emefiele and used to conceal, retain and disguise funds which are the proceeds of unlawful activities.
“Between 2021 and 2022, when accessibility to forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source forex. Emefiele used his cronies to collect bribes and gratification from various entities to get approval for accessing forex.
“One of the entities (NP) paid a total sum of twenty-six million five hundred and fifty-five thousand million dollars ($26,552,000.00) into the account of (DL) domiciled in Titan Trust account number 200000.”
Justices Faji had, on May 30, 2024 ordered the interim forfeiture of the unlawful funds.
An Ikeja Special Offences Court has scheduled May 4, 2026, to deliver its ruling on whether an extra-judicial statement made by co-defendant Henry Omoile will be admitted as evidence in the ongoing trial involving former Godwin Emefiele.
The statement in question was allegedly made by Omoile, who is standing trial alongside Emefiele. Presiding judge, Justice Rahman Oshodi, fixed the date after both the prosecution and defence teams adopted their final written addresses during a trial-within-trial session.
The hearing is focused on determining whether Omoile’s statement was given voluntarily and is therefore admissible in court.
Emefiele is facing a 19-count charge bordering on alleged gratification, corrupt practices, and abuse of office, involving transactions estimated at $4.5 billion and ₦2.8 billion.
Omoile, meanwhile, is standing trial on a three-count charge relating to alleged unlawful acceptance of gifts connected to dealings with the Central Bank of Nigeria.
Counsel to Omoile, Senior Advocate of Nigeria Adeyinka Kotoye, argued that the statement should be rejected on the grounds that it was not voluntarily made. He cited provisions of the Administration of Criminal Justice Act, stressing the importance of video-recorded interrogations to ensure transparency.
The defence also raised concerns over possible coercion, inducement, and lack of proper legal representation during the recording of the statement.
Similarly, counsel to Emefiele, Olalekan Ojo (SAN), urged the court to discountenance the statement, arguing under the Evidence Act that any involuntary confession is inadmissible.
However, Director of Public Prosecutions, Rotimi Oyedepo (SAN), maintained that the statement was properly obtained in line with legal procedures, adding that although it was not video-recorded, it was made in the presence of Omoile’s lawyer.
He further argued that the contents of the statement do not support claims of coercion, noting that Omoile did not implicate Emefiele and denied the allegations against himself.
After hearing all submissions, Justice Oshodi adjourned the matter for ruling on May 4, 2026, while also fixing June 26 and June 30, 2026, for continuation of the substantive trial.
Nine kingmakers of Ijebu-Ode have been re-invited by the Ogun State Police Command to appear at the command headquarters in Eleweran, Abeokuta, next Monday and Tuesday over fresh allegations of bribery and financial inducement in the selection of the new Awujale and paramount ruler of Ijebuland.
The development marks the second time the kingmakers are being summoned by the police on the matter.
Recall that the Ogun State Government, in January 2026, suspended the selection process through a statement signed by the Commissioner for Local Government and Chieftaincy Affairs, Hon. Ganiyu Hamzat.
The suspension followed petitions from security agencies and other stakeholders.
The kingmakers were first invited by the Ogun State Police Command in February over similar accusations of cash inducement. However, the probe was later dropped following the intervention of superior authorities.
In the latest development, the nine kingmakers have been re-invited through a letter dated April 17, 2026, signed by Gbenga Adeoye, Deputy Commissioner of Police in charge of the State Criminal Investigation Department (SCID).
One of the kingmakers, the Kakanfo of Ijebuland, Chief Abimbola Okenla, confirmed the invitation.
He disclosed that four of them are expected to appear on Monday, April 21, 2026, while the remaining five are scheduled for Tuesday, April 22, 2026.
Chief Okenla described the repeated invitations as a distraction, insisting that the allegations are unfounded.
“It’s true that the Ogun State Police Command has invited the kingmakers to the command’s headquarters in Abeokuta.
Four of us are to be there on Monday while the remaining five will be there on Tuesday,” he said.
“None of us is happy with this frequent invitation by the security agencies over unfounded allegations. The people of Ijebuland are equally not happy about it because it is becoming more of a distraction.”
The Kakanfo appealed to Governor Dapo Abiodun to allow the kingmakers to conclude the selection process without further delay.
“We are only pleading with Governor Dapo Abiodun to allow the kingmakers to do their job and complete the assignment of picking the next Awujale of Ijebuland without any further delay,” he added.
Parts of the police invitation letter read:
“In continuation of the aforementioned case under investigation, you are kindly requested to report at the State Criminal Investigation Department, Eleweran, Abeokuta, Ogun State, on [Monday/Tuesday] April 21/22, 2026 at 1000hrs for an interview with the Commissioner of Police, through the Deputy Commissioner of Police, State Criminal Investigation Department.
“This is a fact-finding invitation pursuant to the investigative powers conferred on the Nigeria Police by the combined provisions of Section 214 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and Section 4(a) of the Police Act 2020.
“Your presence is therefore required to assist in advancing the course of criminal justice delivery and fairness. Should you require any clarification, kindly contact 08038455857. Please take note that you are at liberty to come along with your lawyer.”
Nigerian-American singer, David Adedeji Adeleke popularly known as Davido has commended Nigerian businessman Aliko Mohammed Dangote for his style of living.
According to him, the owner of Dangote cement is a different kind of billionaire.
He said unlike other billionaires who always buy luxury cars and show off, Mr. Aliko buys two cars every 8 years.
Speaking in an interview, Davido stated that the businessman always tells him to save his money.
“Uncle Aliko is a different kind of a billionaire, Uncle Aliko buys like two cars every 8 years. He is different ” Davido said.
“Anytime he sees me he just says one thing, save your money. There is nothing more he tells me than save your money.” He added.
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