On Monday, Justice Jude Onwuegbuzie has given a ruling on a final forfeiture of an estate in Abuja measuring 150,500 square metres and containing 753 Units of duplexes and other apartments.
According to the statement released by the Economic and Financial Crimes Commission, EFCC stated that this single largest asset recovery since its inception in 2003, while the Estate rests on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja.
It stated further that the forfeiture of the property to the federal government by a former top brass of the government was pursuant to EFCC’s mandate and policy directive of ensuring that the corrupt and fraudulent do not enjoy the proceeds of their unlawful activities. 
In this instance, the Commission relied on Section 17 of the Advance Fee Fraud And Other Fraud Related Offences Act No 14, 2006 and Section 44 (2) B of Constitution of the 199 Constitution of the Federal Republic of Nigeria to push its case.
Ruling on the Commission’s application for the final forfeiture of the property, Justice Onwuegbuzie held that the respondent have not shown cause as to why he should not lose the property, “which has reasonably suspected to have acquired with proceeds of unlawful activities, the property is hereby finally forfeited to the federal government.”
The road to the final forfeiture of the property was paved by an interim forfeiture order, secured before the same Judge on November 1, 2024. The government official which fraudulently built the estate is being investigated by the EFCC and the forfeiture of the asset is an important modality of depriving the suspect of the proceeds of the crime.
According to the Agency, “The justification for the forfeiture is derived from Part 2, Section 7 of the EFCC Establishment Act, which stipulates that the EFCC “has power to cause investigations to be conducted as to whether any person, corporate body or organization has committed any offence under this Act or other law relating to economic and financial crimes
“And cause investigations to be conducted into the properties of any person if it appears to the Commission that the person’s lifestyle and extent of the properties are not justified by his source of income.”
Meanwhile, Punch report that court papers filed by EFCC have linked the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, to this massive property with 753 duplexes and other apartments located in Cadastral Zone area of Abuja.
According to Punch, “In the court documents obtained by our correspondent on Tuesday, the EFCC ran a narration linking Emefiele to the massive property spanning 150,500 square metre and identified as Plot 109, Cadazral Zone C09, Lokogoma District, Abuja.
Emefiele is currently being prosecuted by the EFCC in three separate cases before different judges.
Before Justice Hamza Mu’azu, he is being tried for procurement fraud, forgery of former President Muhammadu Buhari’s signature, and other charges.
Before Justice Rahman Oshodi at the Special Offences Court in Ikeja, Lagos, Emefiele is charged with alleged fraud involving $4.5bn and N2.8bn.
Additionally, Emefiele is before Justice Maryann Anenih of the FCT High Court in Abuja for allegedly approving the printing of N684.5m notes at the cost of N18.96bn.According to the document, Emefiele allegedly carried out “monumental fraud” as the CBN governor with his cronies to acquire several properties including the estate.
“The commission whilst investigating the alleged monumental fraud carried out by the immediate past Governor of the CBN and his cronies traced and discovered several properties reasonably suspected to have been acquired and or developed with proceeds of unlawful activities.
“The property highlighted in Schedule A to this application is one of the said properties recovered, having been reasonably suspected to have been acquired/ developed with proceeds of unlawful activities.”
The EFCC alleged that “in the cause of this investigation, it was revealed that the erstwhile CBN governor negotiated kickbacks in return for allocation of foreign exchange to some companies who were in desperate need of foreign exchange for their lawful and legitimate businesses.
“Our investigation equally revealed that erstwhile CBN Governor received kickbacks from some contractors who were awarded contracts by the Central Bank of Nigeria.”
The anti-graft agency also alleged that Emefiele connived with several cronies, including one Ifeanyi Omeke, who “ran several errands for him, which included purchase and perfection of title documents for several properties located in highbrow areas of Lagos and Abuja.
