Justice Olayinka Faji of the Federal High Court, Lagos, on Thursday ordered the final forfeiture of another $1.4 million linked to a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
The Economic and Financial Crimes Commission (EFCC) had in an application filed through its counsel, Bilkisu Bahari-Bala, told the court that the sum of $1,426,175.14 found in the account of Donatone Limited at Titan Trust Bank was proceeds of fraudulent activities.
Also an EFCC investigator, David Jayeoba, in an affidavit revealed that intelligence reports led to the discovery of funds concealed in Donatone Limited’s account with the bank.
He said the commission uncovered a scheme involving Emefiele and Donatone Limited directors, Uzeobo Anthony and Adebanjo Olurotimi, who allegedly helped to hide and disguise the funds.
Jaiyeoba said: “That both men were procured by Emefiele and used to conceal, retain and disguise funds reasonably suspected to be proceeds of unlawful activities.
“Both men used Donatone Ltd to collect bribes and gratification on behalf of Emefiele to get approval for accessing Forex.”
In his ruling, the judge agreed with the EFCC that the funds were the proceeds of fraudulent activities and ordered the permanent forfeiture to the federal government.
Justice Yellim Bogoro of the same court on February 21 ordered the final forfeiture of $4,719,054, and N830,875,611 as well as a number of properties linked to the ex-CBN governor to the government.
Source: Ripples