Justice Deinde Dipeolu of a Lagos Federal High Court, has fixed November 1, 2024 to rule on the application by the Economic and Financial Crimes Commission (EFCC) for final forfeiture of the $2.045million, seven landed properties and shares involving former Governor of the Central Bank of Nigeria, Godwin Emefiele.

Justice Dipeolu will also rule on the application filed by Emefiele challenging the jurisdiction of the court to entertain the forfeiture proceedings.

The court had on August 25, 2024, authorised the EFCC to temporarily take custody of the cash sum of $2.045million, the landed properties and shares linked to the suspended CBN Governor, Emefiele.

In granting the application, the court had directed the EFCC to publish the order of interim forfeiture for any person interested in the funds to show the cause why it should not be finally forfeited to the FG.

At the resumed hearing on Friday, EFCC’s lawyer, Rotimi Oyedepo ?(SAN), moved an application for the final forfeiture of the sum of $2.045 million, as well as share certificates, which he said was not contested by the interested Party.

On the properties sought to be forfeited, Oyedepo submitted that the party interested failed to connect his lawful earnings from Zenith Bank and the Central Bank of Nigeria (CBN) to the acquisition of the properties sought to be forfeited.

He stated that the totality of the amount the party interested lawfully earned and saved before the assumption of office as CBN Governor as declared by him was not used for the acquisition of the properties sought to be forfeited.

Oyedepo further adopted his written address dated August 29, 2024 and urged the court to order final forfeiture of the properties to the Federal Government.

Opposing the application, Mr. Olalekan Ojo (SAN) lawyer to the interested Party (Emefiele), urged the court to hold that his client has shown in a balance of probability that court ought not to grant final forfeiture of the properties.

He equally adopted his written address, and urged the court to refuse the application.

Earlier, in his application challenging the jurisdiction of the court to continue with the forfeiture proceedings, Ojo (SAN) urged the court to stay further proceedings pending final determinations of the charges filed by the EFCC against Emefiele before the Federal High Court in Abuja and at the Lagos State High Court.

Citing several legal authorities to support his argument, Ojo (SAN) argued that the decision of the court will affect ongoing trials at the Federal High Court, Abuja and the Lagos State High Court respectively.

However, Oyedepo in his reply, urged the to discountance the argument, adding the the court have held on several occasions that the pendence of a charge, will not prevent the court from making final forfeiture of properties reasonably suspected to be proceeds unlawful activity

It would be recall that Justice Akintayo Aluko, had on August 15 ordered an interim forfeiture of $2.045 million, and some landed properties allegedly linked to Emefiele following an Ex-parte application by the EFCC.

The judge granted the forfeiture order, after taking hearing EFCC counsel, Mr. Rotimi Oyedepo (SAN).

Other properties ordered to be forfeited by the court include: two fully detached duplexes of identical structures, lying being and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped land, measuring 1919.592sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (Formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65a Oyinkan Abayomi Drive, (Formerly Queens Drive), Ikoyi, Lagos and a four-bedroom duplex at 12a Probyn Road, Ikoyi.

It also includes; an industrial complex under construction on 22 plots of land in Agbor, Delta State; 8 units of an undetached apartment on a plot measuring 2457.60sqm at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land measuring 2217.87sqm at 2a Bank Road, Ikoyi, Lagos.

The judge also ordered temporary Forfeiture of.two share certificates of Queensdorf Global Fund Limited Trust belonging to the embattled former CBN Governor, Emefiele.

After granting the interim forfeiture of the funds and properties, Justice Aluko ordered the EFCC to publish the forfeiture notice in a well-circulated national newspaper within 14 days, for any interested party to show cause and tell the court why the money and properties should not be finally forfeited.