Justice Ayokunle Faji of the Federal High Court, Ikoyi, Lagos, has ordered the final forfeiture of $1, 426, 175.14 linked to former Central Bank of Nigeria Governor, Godwin Emefiele.
This was disclosed via the commission’s official X handle (formally Twitter) on March 6, 2025.
This ruling followed a motion to set aside an earlier final forfeiture order, dated June 25, 2024.
The initial order stemmed from a motion presented by Bilkisu Buhari, counsel for the Economic and Financial Crimes Commission (EFCC), which went unchallenged.
The EFCC conducted an investigation, revealing that the funds were suspected proceeds of unlawful activities associated with Donatone Limited’s Titan Trust Bank account.
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EFCC investigating officer, David Jayeoba, confirmed that the funds were traced to interest-yielding accounts, and were laundered through a foreign account in Mauritius, before being repatriated to Nigeria disguised as legitimate.
It was highlighted that out of the $26, 552, 000 received by the firm, the remaining balance of $1, 426, 175. 14 was sought for forfeiture.
The court noted that the signatories to the account were evading capture, and were attempting to electronically dissipate the remaining funds.
In response, solicitors for Donatone Limited, submitted a counter-affidavit disputing the claims made by the EFCC. However, the EFCC provided further evidence in a subsequent affidavit, reinforcing their case.
Justice Faji emphasized that any party claiming ownership of the funds, must demonstrate the lawfulness of its acquisition.
After reviewing the submissions, and supporting evidence, he granted the final forfeiture application, thereby, allowing the funds to be forfeited to the federal government.
