Segun Ayinde, Abeokuta
Justice Ayokunle Faji of the Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of $1,426,175.14 linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, on Thursday, March 6, 2025.
The ruling followed a motion filed by the Economic and Financial Crimes Commission (EFCC) seeking to confirm the final forfeiture order issued in June 2024, which had not been contested by any interested parties.
The funds were found to be proceeds of unlawful activities and were traced to Donatone Limited’s account at Titan Trust Bank. According to an EFCC investigator, the money was funneled through foreign accounts and laundered via Mauritius before being returned to Nigeria under disguise.
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“Investigation revealed that the $26,552,000 received by Donatone Limited saw substantial portions dissipated, with $1,426,175.14 remaining,” stated the EFCC. The court also noted that those responsible for the account were still at large and attempting to dissipate the funds electronically.
Despite attempts by Donatone Limited’s solicitors to dispute the claims, the court ruled in favor of the EFCC, emphasizing that anyone challenging the forfeiture must prove the legality of the funds’ acquisition.
The court’s final ruling solidifies the forfeiture of the funds, marking a significant step in the ongoing efforts to hold Emefiele accountable for alleged corruption during his tenure as CBN Governor.