The Economic and Financial Crimes Commission (EFCC) has implicated former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in the acquisition of a sprawling estate of 753 duplexes and other apartments in Abuja, allegedly procured through forex kickbacks.
Court documents filed by the EFCC revealed that the estate, located in the Cadastral Zone of the Lokogoma District, spans 150,500 square meters and is one of the largest property recoveries made in the agency’s history. The recovery, announced on Monday, followed a December 2, 2024, ruling by Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Apo.
According to the EFCC, the property is linked to illicit funds from forex kickbacks during Emefiele’s tenure as CBN governor. The anti-corruption agency described the estate as its most significant single recovery since its inception in 2003.
The EFCC’s investigation detailed how the funds, purportedly diverted from official forex transactions, were used to acquire the estate. While the title documents of the property reportedly do not bear Emefiele’s name, court filings and investigative reports directly tie the acquisition to him and his associates.
In the court ruling, the EFCC secured permission to seize the property, pending further legal action. Justice Onwuegbuzie noted that the agency had provided sufficient grounds to justify the confiscation, emphasizing the need for accountability in public office.
The EFCC hailed the recovery as a landmark achievement in its fight against corruption. The commission reiterated its commitment to ensuring that public funds misappropriated by high-ranking officials are recovered and redirected to national development.
“This recovery underscores our resolve to address corruption at all levels, regardless of the status of those involved,” the EFCC stated.
However, the move has sparked debate, with critics questioning the EFCC’s approach of naming individuals without direct evidence in title documents. A spokesperson for Emefiele has yet to respond to the allegations.
The case highlights ongoing efforts by Nigeria’s anti-graft agencies to tackle corruption and misuse of public funds, particularly among influential political and financial figures. Further proceedings are expected in the coming weeks.
