
A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to former Central Bank of Nigeria Governor, Godwin Emefiele. Justice Olayinka Faji, in a ruling on Thursday, upheld the Economic and Financial Crimes Commission (EFCC)’s claim that the funds were proceeds of unlawful activities and must be surrendered to the Federal Government.
EFCC counsel Bilkisu Bahari-Bala told the court that $1,426,175.14 was discovered in Donatone Limited’s Titan Trust Bank account (No. 2000000500) and linked to fraudulent activities.
An affidavit by EFCC investigator David Jayeoba revealed that intelligence reports exposed concealed funds in Donatone Limited’s account. The investigation traced a scheme involving Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped hide the illicit proceeds.
Court documents also identified Anthony and Olurotimi as key figures behind the fraudulent concealment of funds suspected to be linked to Emefiele’s unlawful activities.
“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.”