The Federal High Court in Lagos has dismissed a request from Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), to halt proceedings in a case brought by the Economic and Financial Crimes Commission (EFCC) seeking the forfeiture of his assets and funds.
Emefiele, through his lawyer Olalekan Ojo (SAN), had urged the court to stay proceedings while an appeal was pending.
However, Justice Deinde Dipeolu ruled that interested parties still have the right to approach the Court of Appeal, but the case itself would proceed in the trial court.
The ruling comes as Emefiele faces accusations from the EFCC, which is pursuing the forfeiture of a cash sum of $2.045 million, seven properties, and shares allegedly linked to unlawful activities.
The properties in question include luxury residences and land in Lagos and Delta State, along with shares in Queensdorf Global Fund Limited Trust.
Emefiele’s legal team had argued that the ongoing proceedings should be paused until the appeal against an earlier temporary forfeiture order was heard by the Court of Appeal.
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Olalekan Ojo stressed that staying the case would prevent “judicial rascality.” However, the EFCC’s counsel, Rotimi Oyedepo (SAN), countered, stating that Emefiele’s appeal had not crystallized into a valid case as it had not followed proper procedures. He argued that Emefiele rushed to the Court of Appeal without securing the necessary approval from the trial court.
In response, Justice Dipeolu sided with the EFCC, stating that no decision had been made on the substantive issues in the case, and therefore, there was no ground to stay the proceedings. The judge rejected Emefiele’s request, allowing the EFCC to continue pursuing the forfeiture case.
The court previously authorized the EFCC to temporarily seize Emefiele’s assets, including high-end properties in Lekki and Ikoyi, Lagos, as well as a complex under construction in Delta State.
The properties are suspected to be proceeds of unlawful activities, and the EFCC is now pushing for their permanent forfeiture.
Justice Akintayo Aluko, who issued the initial interim forfeiture order in August, instructed the EFCC to publish a notice in a national newspaper, giving any interested parties 14 days to contest the forfeiture.
At the next hearing, Emefiele and other parties expressed their intention to challenge the forfeiture, but their efforts to pause the proceedings have now been blocked.
With this latest ruling, the EFCC is poised to continue its case against Emefiele, bringing the former CBN governor’s assets one step closer to being permanently seized.
