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The Economic and Financial Crimes Commission (EFCC) has drawn a direct connection between Godwin Emefiele, the former Governor of the Central Bank of Nigeria, and a vast real estate property in the heart of Abuja.
According to court filings, the estate in question, located in the Cadastral Zone, spans an impressive 753 duplexes alongside additional apartments. The discovery has raised new questions about the former official’s wealth and the origins of his assets.
On Monday, the Economic and Financial Crimes Commission (EFCC) reported a monumental recovery of a property tied to an undisclosed former government official. The agency hailed it as the biggest single asset seized in its fight against corruption since its creation in 2003, emphasizing the growing success of its efforts to reclaim illicitly acquired wealth.
The recovery was made possible by a landmark decision delivered by Justice Jude Onwuegbuzie of the FCT High Court in Apo on December 2, 2024, adding another layer of legal momentum to the fight against corruption.
The EFCC’s court papers, unveiled on Tuesday, provided a comprehensive narrative that directly linked Godwin Emefiele to an enormous property in Abuja’s Lokogoma District, with a vast expanse of 150,500 square meters, marked as Plot 109 in Cadastral Zone C09.
The former CBN governor, Emefiele, is embroiled in three ongoing cases, each in front of different judges. Under the watch of Justice Hamza Mu’azu, he faces serious allegations, including procurement fraud, forging President Buhari’s signature, and a host of 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.
Read also: Witness: Money Collected For Emefiele Went Unlogged
“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.”
It said the documents for the Abuja property were recovered during a search of Omeke’s office and that investigators located the property on September 17, 2024 “with the assistance of a surveyor from the Abuja Geographical Information Systems, using search results and coordinate.”
The EFCC said its investigation “revealed that the said property has been abandoned and deserted with only a guard manning the said property since June 2023 upon the arrest of the erstwhile CBN Governor. “
Earlier reports that the Department of State Services arrested Emefiele in Lagos the following day he was suspended by President Bola Tinubu.
Following his release from DSS custody in October, Emefiele was quickly taken into EFCC custody. The commission has raised concerns that the significant property in question, which Emefiele allegedly obtained through cronies, was originally meant for a much-needed mass housing project but appears to have been diverted for personal enrichment instead.
In its probe, the EFCC revealed that Emefiele used a network of three companies to pay an eye-watering N2.2bn for the property. This discovery further deepens suspicions about the legality of his dealings and the channels through which the funds were funneled.
It was disclosed that the seller had received a total amount of N2,200,000,000.00, with additional claims that the three companies utilized in the transaction were deeply entangled in complex criminal schemes designed to launder the proceeds of Mr. Godwin Emiefele’s illicit activities.
