Court Orders Final Forfeiture Of $2.04m, Properties, Shares Linked To Emefiele

The listed properties include:

• Two fully detached duplexes of identical structure at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos.
• An undeveloped parcel of land measuring 1,919.592 sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos.
• A bungalow located at No. 65a Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos.
• A four-bedroom duplex at No. 12a Probyn Road, Ikoyi, Lagos.
• An industrial complex under construction across 22 plots in Agbor, Delta State.
• Eight units of undetached apartments on a plot of 2,457.60 sqm at No. 8a Adekunle Lawal Road, Ikoyi.
• A full duplex with appurtenances on a 2,217.87 sqm plot at No. 2a Bank Road, Ikoyi, Lagos.

On August 15, 2024, the court granted the Economic and Financial Crimes Commission (EFCC) temporary custody of $2.045 million, seven prime properties, and shares linked to Emefiele, after hearing an ex parte application from the EFCC’s lead counsel, Rotimi Oyedepo (SAN).

This ruling followed the EFCC’s claim that the assets were reasonably suspected to be proceeds of unlawful activities.

However, Emefiele’s counsel, Senior Advocate of Nigeria Olalekan Ojo, urged the court to stay proceedings and avoid granting a final forfeiture order for the properties.

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