Again, court orders final forfeiture of $1.4m linked to Emefiele

Justice Ayokunle Faji of a Federal High Court, Lagos, has ordered the final forfeiture of $1,426,175.14 linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.

The judge made the order after hearing a motion filed and argued by the counsel to the Economic and Financial Crimes Commission (EFCC), Mrs. Bilkisu Buhari.

In her submission, Buhari urged the court to finally forfeit the money domiciled in account number 2000000500, in Titan Trust Limited, to the Nigerian government.

She told the court that the application is pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 2006 and section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.

The anti-graft lawyer stated that the application for the final forfeiture of the said sum has been established to be proceeds of unlawful activities.

According to her, the application was supported by a written address and an affidavit deposed to by David Jayeoba, an Investigating Officer with the EFCC.

The deponent averred that his Commission received credible and direct intelligence, which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account. These funds are reasonably suspected to be part of the proceeds of unlawful activities.

He also stated that while investigating the monumental fraud carried out by the erstwhile CBN governor, Mr Emefiele, and his cronies, they discovered a huge amount of money warehoused and concealed in the account of (DL) domiciled in Titan Trust Bank.

He added that some of the brains behind the fraudulent concealment of funds, reasonably suspected to have been proceeds of unlawful activities of Emefiele, are the natural persons behind (DL): Uzeobo Anthony and Adebanjo Olurotimi, directors of DL.

The deponent therefore stated that “part of the said funds, which represent the proceeds of Godwin Emefiele and his cronies’ unlawful activities, are retained in the accounts now sought to be forfeited.

“That Uzeobo Anthony and Adebanjo Olurotimi were procured by Godwin Emefiele to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.

“Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex.

“That both Uzeobo Anthony and Adebanjo Olurotimi used to collect bribes and gratification on behalf of (GE) to get approval for accessing Forex. One of the entities paid a total sum of Twenty-Six Million Five Hundred and Fifty-Five Thousand Million Dollars ($26,552,000.00) into the account of (DL) domiciled in Titan Trust account number 2000000500.

“The said credits came into the account on November 9, 2021: $6,450,000; November 15, 2021: $6,050,000.00; December 16, 2021: $5,400,000.00; December 23, 2021: $652,000; January 31, 2022: $3,000,000.00; and on September 21, 2022: $5,000,000.00. Attached and marked EFCC 1 is the Titan Trust bank account of Donatus Limited evidencing the inflows.

“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.

“Of the total sum of $26,555,000.00 US dollars received by Donatus Limited, the balance standing in the said account as at today is the sum of One Million Four Hundred and Twenty-Six Thousand One Hundred and Seventy-Five US dollars ($1,426,175.14).

“It is the balance in the account that the applicant (EFCC) seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of (GE) and his cronies.

“Investigation further revealed that the international entities sourcing for forex were pressured into parting with huge funds to access forex during the period. The signatories to the account warehousing the sum of ($1,426,175.14) sought to be forfeited are at large and are making frantic efforts to dissipate the funds electronically.

“Based on our investigation findings, the funds sought to be forfeited are proceeds of unlawful activities of Godwin Emefiele and his cronies. The applicant secured an interim forfeiture order of the Honourable Court on the 29th Day of May 2024 to forfeit the sum of $1,426,175.14 warehoused in Titan Trust Bank to the Federal Government of Nigeria in the interim. Attached and marked EFCC 3 is the Honourable Court’s order dated May 29, 2024.

“The Honourable Court ordered that the order be published in a national daily. The said order was carried out and the applicant published the order in the Punch newspaper on June 6, 2024. Attached and marked EFCC 4 is the said order.”

However, after listening to the submission of the EFCC counsel, Justice Faji held that: “Having been satisfied with the applicant’s application and submission of counsel, I hereby grant the prayer finally forfeiting the said funds in question.”