A federal high court in Lagos has ordered the permanent confiscation of $1.4 million reportedly linked to former Central Bank of Nigeria Governor Godwin Emefiele.
In a verdict issued on Thursday by Ayokunle Faji, the court determined that the Economic and Financial Crimes Commission (EFCC) properly established that the money was the profits of illegal acts and therefore be forfeited to the federal government.
The EFCC, represented by attorney Bilkisu Bahri-Bala, informed the court that $1,426,175.14 was discovered in an account belonging to Donatone Limited at Titan Trust Bank.
The anti-graft agency revealed that its investigations had linked the funds to fraudulent transactions.
An affidavit filed by EFCC investigator David Jayeoba described how intelligence reports led to the finding of the money.
The agency claimed that Emefiele utilised Donatone Limited and its directors, Uzeobo Anthony and Adebanjo Olurotimi, to conceal illicit funds.
“…That investigation revealed that Uzeobo Anthony and Adebanjo Olurotimi are 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, Godwin Emefiele,” the affidavits read
“That both men were procured by Emefiele and used to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.
“That both men used Donatone Ltd to collect bribes and gratification on behalf of Emefiele to get approval for accessing forex.”
On May 30, 2024, the judge granted an interim forfeiture order before deciding on the final forfeiture of the funds.
Source: TheCable
