A Federal High Court in Lagos has ordered the interim forfeiture of $4.7 million and ₦830 million linked to former Central Bank Governor, Godwin Emefiele.
Justice Yellim Bogoro issued the ruling following an application by the Economic and Financial Crimes Commission (EFCC), which argued that the funds were proceeds of unlawful activities.
The EFCC told the court that investigations traced the money to accounts controlled by proxies and companies linked to Emefiele. The judge ruled that the order would stand pending the conclusion of investigations and possible trial.
The case adds to the growing legal troubles facing the ex-CBN governor, who is already battling multiple charges, including abuse of office and procurement fraud.
Justice Bogoro also directed the EFCC to publish the order in national newspapers, allowing interested parties to show cause why the funds should not be permanently forfeited to the federal government.
The matter was adjourned to a later date for further hearing.
