A Federal High Court in Lagos has ordered the permanent forfeiture of $1.4 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, ruling that the funds were proceeds of fraud.
Justice Ayokunle Faji granted the Economic and Financial Crimes Commission (EFCC)’s request after the agency established that the money, found in Donatone Limited’s account at Titan Trust Bank, was linked to illegal activities.
The EFCC alleged that Emefiele and his associates used Donatone Limited to hide illicit funds obtained from businesses seeking foreign exchange approvals between 2021 and 2022. An interim forfeiture order was issued in May before the court ruled for final forfeiture on Thursday.
