Rita Odafe
The Economic and Financial Crimes Commission (EFCC) has disclosed that a large estate, comprising 753 duplexes and various apartments located in the Cadastral Zone of Abuja, was purchased by former Central Bank of Nigeria Governor, Godwin Emefiele, along with his associates.
This information emerged from court documents filed by the EFCC.
Earlier this week, the EFCC announced its successful recovery of this property from a high-ranking former government official, labeling it as the largest single asset recovered in its history since 2003.
While the names of the individuals who owned the properties were initially withheld, documents shared by Omoyele Sowore indicated that the EFCC identified Emefiele and his associates as the beneficiaries.
Emefiele currently faces prosecution in three distinct cases across various courts.
In front of Justice Hamza Mu’azu, he is charged with procurement fraud and forgery, specifically regarding the signature of former President Muhammadu Buhari, among other accusations.
Additionally, in proceedings led by Justice Rahman Oshodi at the Special Offences Court in Ikeja, Lagos, Emefiele stands accused of fraud involving a staggering $4.5 billion and N2.8 billion.
Moreover, he is being tried by Justice Maryann Anenih at the FCT High Court in Abuja for purportedly authorizing the printing of N684.5 million worth of currency at a cost of N18.96 billion.
According to the EFCC documents, Emefiele engaged in what is described as “monumental fraud” as the governor of the CBN, along with his associates, leading to the acquisition of numerous properties, including this estate.
“During the investigation of the substantial fraud related to the former CBN Governor and his associates, several properties were traced and identified as potentially acquired or developed using illicit proceeds,” the documents stated.
The EFCC further claimed that “the investigation revealed that the former CBN governor received kickbacks in exchange for allocating foreign exchange to companies in dire need of such resources for their legitimate businesses.”
“It also came to light that Emefiele received kickbacks from contractors who were awarded projects by the Central Bank of Nigeria.”
The EFCC accused Emefiele of working with various accomplices, including Ifeanyi Omeke, who “assisted him in tasks like acquiring and securing title documents for multiple properties in upscale areas of Lagos and Abuja.”
Documents related to the Abuja property were obtained during a raid on Omeke’s office, and the property was pinpointed on September 17, 2024 “with help from a surveyor at the Abuja Geographical Information Systems, using location data and search findings.”
The EFCC stated that the property has been abandoned since June 2023, remaining unoccupied except for a guard following Emefiele’s arrest.
The PUNCH recounted how Emefiele was arrested in Lagos just a day after his suspension by President Bola Tinubu.
In October, less than an hour after being released from DSS custody, Emefiele was apprehended by the EFCC again.
According to the EFCC, the vast estate, purportedly acquired through cronies, was originally intended for mass housing development.
The investigation suggested that Emefiele utilized three companies to facilitate the acquisition, totaling N2.2 billion.
It was noted that the seller “received the sum of N2,200,000,000.00,” with “the three companies implicated in these transactions linked to the illicit activities of Mr. Godwin Emefiele.”
As reported, one company disbursed N900 million, another N700 million, and the third N600 million, aggregating N2.2 billion.
Directors from these companies were apprehended and provided their statements during the investigation.
“The funds used for the purchase of the mentioned property are not legitimate earnings of Godwin Emefiele, but derived from illegal and unlawful activities,” declared an EFCC investigator in a court affidavit.
The EFCC noted that on November 1, 2024, the court issued an order for temporary forfeiture of the property after reviewing the evidence presented.
The agency requested the court to enforce a permanent forfeiture, explaining that no one disputed the claims made during court proceedings, despite the interim forfeiture notice being published in The PUNCH on November 6, 2024.
The court granted the EFCC’s request, officially awarding the property to the Federal Government.
