News
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.
According to him, such financial mishandling not only disrupts critical public services and projects but also results in major losses to the nation’s purse—resources that could have been channelled into crucial services and developmental efforts, as laid out in Section 14(2)(b) of the Constitution.
Speaker Abbas, thereafter setup a Special Committee to be chaired by Rep. Chinedu Martins to immediately launch a probe into the “Utilisation of take-off grants, bailout funds, and interventions allocated to MDAs, government institutions, and GOEs from 2015 to present.”
The FCT Minister, Mr. Nyesom Wike, expressed satisfaction with the progress on the Abuja light rail project, reaffirming its May 29 delivery as sacrosanct.
He made these assurances after inspecting the ongoing construction of access roads to the train stations on Wednesday, from Metro Train Station in the Central Area to Nnamdi Azikiwe International Airport, Abuja.
Reassuring journalists accompanying him, the minister reiterated that President Bola Tinubu would commission the rail project on May 29 to mark his second year in office.
The visited stations were Wupa station near Idu and Bassanjiwa station near the airport.
“This is part of our routine inspection of ongoing projects to see the contractors’ progress,” Wike explained.
“We are working day and night to fulfill our promise to President Tinubu and FCT residents. By May, Mr. President will ride on the Metro line.”
Gunmen suspected to be Fulani herdsmen are currently invading some communities in the Ukum Local Government Area of Benue State.
According to sources, the herdsmen armed with AK-47 rifles stormed the community around 04:15pm on Thursday.
“Our lives are in danger this evening, armed Fulani herdsmen, about 600 in numbers have taken over our communities this evening,” a resident told SaharaReporters.
“They’re currently moving around towns in Ukum Local Government Area of Benue state. No security personnel at all, Governor Alia didn’t send security, they said operation will start soon once they (herders) have observed the place.”
The insecurity situation in Benue has been alarming in recent weeks with attacks from gunmen suspected to be herdsmen.
The media had reported that suspected herdsmen again unleashed terror in Benue State, attacking three communities in Otukpo Local Government Area (LGA) on Wednesday, just a day after 11 people were killed in a deadly raid on Otobi community.
The latest victims of the escalating violence were Emichi, Odudaje, and Okpamaju, communities that had previously suffered an attack in February, which left five people dead.
However, the renewed attack has created fear and mass displacement among residents, with women and children fleeing to safety.
Local sources say the death toll from the fresh attack remains unclear, but several casualties are feared.
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