The federal high court in Lagos has ordered the final confiscation of $1.4 million in connection with former Nigeria Central Bank (CBN) Governor Godwin Emefiele.
The judge ruled on Thursday, March 6 that the amount was a proceeds from illegal activities and must be confiscated to the federal government. The Economic and Financial Crime Commission (EFCC), represented by attorney Bilkisu Bahari-Bala, told the court that $1,426,175.14 (account 2000000500) was found in the Donatone Limited account of Titan Trust Bank, and the investigation confirmed that the money was linked to fraudulent activity.
EFCC investigator David Jayeoba’s affidavit for ousting said intelligence reports led to the discovery of hidden funds. “Investigations show that Uzeobo Anthony and Adebanjo Olurotimi are some of the brains of fraudulent concealment of funds, reasonably suspected to be the illegal activities carried out by Nigeria Governor Godwin Emefiele.”
The EFCC claims both men were recruited by Emefiele to help hide and conceal the funds. “Both use Donatone Ltd to collect bribes and satisfaction on behalf of Emefiele to obtain approval for access to Forex,” the investigator added.
Justice Faji had previously issued an interim confiscation order on May 30, 2024, and then approved the final confiscation of funds on Thursday.
