A Federal High Court in Lagos has ordered the permanent forfeiture of $1,426,175.14 linked to former Central Bank Governor Godwin Emefiele.
Delivering judgment, Justice Ayokunle Faji ruled that the funds were proceeds of unlawful activities and should be forfeited to the Federal Government.
The judge affirmed that the Economic and Financial Crimes Commission (EFCC) had successfully established the illegality of the money.
The EFCC, represented by counsel Bilkisu Bahri-Bala, informed the court that the funds were held in the account of Donatone Limited at Titan Trust Bank (Account No. 2000000500).
The anti-graft agency argued that investigations revealed the money was derived from illicit activities.
According to an affidavit sworn by EFCC investigator David Jayeoba, intelligence reports led to the commission’s move to recover the funds.
The court had previously granted an interim forfeiture order on May 30, 2024, paving the way for the final judgment.
With this ruling, the Federal Government now has full legal control over the forfeited funds.
