A recent ruling by a federal high court in Lagos has mandated the forfeiture of $4.7 million, ₦830.9 million, and several properties associated with a former Central Bank of Nigeria (CBN) Governor. The decision is part of an ongoing legal situation involving allegations of financial misconduct and abuse of office during the individual’s time as governor.
The court order, issued by Justice Yellim Bogoro, came after a motion filed by the Economic and Financial Crimes Commission (EFCC). The EFCC argued that the assets in question were acquired through illegal means, referencing relevant sections of Nigerian laws.
The forfeited funds are spread across accounts in First Bank, Titan Bank, and Zenith Bank, held by various entities linked to the former CBN Governor. These entities include Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
Additionally, the court ruled for the forfeiture of €20,000, £1,999.50, and investments totaling $5.3 million connected to the aforementioned entities.
The former CBN Governor, who served from 2014 to 2023, was relieved of his duties in June 2023 amidst allegations of fraudulent activities, corruption, and other misconduct. Despite denying these accusations, his tenure was marked by controversial policies and financial decisions.