The Economic and Financial Crimes Commission (EFCC) has requested a final forfeiture order from the Federal High Court Lagos for properties and $1.4 million allegedly linked to former Central Bank of Nigeria (CBN) governor Godwin Emefiele. The EFCC claims the monies, allegedly proceeds of crime, are held in Titan Bank. The agency accuses Emefiele of contravening the 1999 Constitution by acquiring properties and funds through illegal means. The EFCC alleges that Emefiele and his associates collected bribes and gratification from international entities to access foreign exchange during a period of forex scarcity in Nigeria. The entities paid a total of $26.55 million into a firm's account, which was then laundered and dissipated. The EFCC seeks to forfeit the remaining balance of $1.426 million to the Federal Government of Nigeria. Justice Ayokunle Faji ordered an interim forfeiture of the money and directed the EFCC to publish the order in a national newspaper, allowing any interested parties to show cause why the funds should not be finally forfeited. The case is set for a hearing on final forfeiture on June 25. Emefiele faces multiple lawsuits and has pleaded not guilty to various charges, including procurement fraud and abuse of office.
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EFCC seeks final forfeiture of Emefiele’s properties, $1.4m allegedly domiciled in Titan Bank
EFCC seeks final forfeiture of Emefiele’s properties, $1.4m allegedly domiciled in Titan Bank
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