A Federal High Court in Abuja has ordered the final forfeiture of $1.4 million allegedly linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The ruling follows an extensive investigation by the Economic and Financial Crimes Commission (EFCC), which traced the funds to accounts reportedly connected to financial misconduct during Emefiele’s tenure.
According to EFCC prosecutors, the funds were suspected to have been misappropriated from government accounts and funneled into private holdings. “After thorough investigations and court proceedings, we have provided sufficient evidence to establish that these funds are proceeds of unlawful activities,” an EFCC official stated.
The court’s decision means that the funds, which were initially placed under an interim forfeiture order, will now be permanently transferred to the Federal Government. The ruling also paves the way for further actions against individuals implicated in the mismanagement of public funds under Emefiele’s leadership.
Godwin Emefiele, who served as CBN governor from 2014 to 2023, has been facing multiple allegations of corruption, financial mismanagement, and abuse of office. His tenure saw controversial policies, including the naira redesign policy, which led to severe cash shortages across the country.
Despite his legal troubles, Emefiele has maintained his innocence, stating that all financial transactions during his time as CBN governor were lawful and in the country’s best interest. His legal team has hinted at appealing the forfeiture ruling, arguing that due process was not followed.
As the case progresses, the outcome could have broader implications for Nigeria’s anti-corruption drive, particularly in holding high-profile public officials accountable for financial misdeeds.
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