The Lagos State Special Offences Court sitting in Ikeja has admitted a Supreme Court judgment upholding the forfeiture of seven properties, $2.045 million and share certificates linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
The certified true copy of the judgment was admitted on Friday by Justice Rahman Oshodi as Exhibit L in the ongoing trial of Emefiele over alleged fraud involving $4.5 billion and N2.8 billion.
The trial judge overruled objections by the defence, ruling that the certified judgment was admissible as a public document.
He also dismissed the argument that the document was incomplete because it contained only the lead judgment.
However, Justice Oshodi restricted its use to establishing the decision reached by the Supreme Court in the earlier forfeiture proceedings.
He stressed that it could not be used as evidence for or against any of the defendants in the ongoing trial.
The prosecution, led by Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN) and Director of Public Prosecutions of the Federation, tendered the judgment through an Economic and Financial Crimes Commission (EFCC) investigator, Alvan Gurumnaan.
Emefiele’s counsel, Ojo Olalekan, SAN, opposed its admission, arguing that the copy was signed by only four justices, whereas Supreme Court decisions were ordinarily delivered by panels of five or seven justices.
He further contended that the judgment arose from non-conviction-based forfeiture proceedings and was irrelevant to the charges against his client.
Counsel to the second defendant, Henry Omoile, Adeyinka Kotoye, SAN, also backed the objection and urged the court to reject the document.
But Oyedepo maintained that the judgment was a duly certified public document admissible under Sections 102 and 104 of the Evidence Act.
The Supreme Court judgment was delivered on July 17 by a five-member panel led by Justice Ibrahim Saulawa, now retired.
The apex court overturned a Court of Appeal decision that had set aside a Federal High Court order for the final forfeiture of the assets.
It consequently restored the forfeiture order made by Justice D.I. Dipeolu on November 1, 2024, following an appeal by the EFCC.
The assets include seven properties, $2.045 million and share certificates belonging to Queensdorf Global Fund Limited.
The properties are located in Lekki Phase 1 and Ikoyi in Lagos, as well as Agbor in Delta State.
They include duplexes, apartments, undeveloped land and an industrial complex under construction.
The EFCC had said its investigation showed that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
The commission sought their forfeiture under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Investigator continues cross-examination
Following the ruling, Gurumnaan continued his cross-examination by the defence.
The investigator told the court that he personally obtained statements, analysed bank records and coordinated other members of the investigation team.
He confirmed that he interviewed Zenith Bank Managing Director, Ebenezer Onyeagwu, but said he could not immediately remember whether a statement was obtained from him after the interview.
Gurumnaan also disclosed that the investigation involved hundreds of interviews with CBN officials, commercial bank employees and personnel of other government agencies.
At the previous sitting, he had told the court that investigators traced several properties worth billions of naira to Emefiele through associates.
He alleged that some of the former CBN governor’s associates received money and acquired properties on his behalf.
Among the assets he identified were twin duplexes in Lekki Phase 1, two mansions on Queens Drive, Ikoyi, an 11-storey building under construction comprising about 94 luxury flats, and an estate of approximately 750 houses in the Lokogoma district of Abuja.
He further claimed that investigators recovered more than $2 million from the office of a lawyer, Ifeanyi Omeke, who allegedly admitted acting as a front for Emefiele.
The Lokogoma estate was the subject of a separate EFCC case in which Emefiele was accused of acquiring 753 housing units with an alleged accomplice, Eric Ocheme.
The estate was subsequently forfeited to the Federal Government. Emefiele is standing trial alongside Omoile on 22 counts.
Nineteen counts against the former CBN governor include allegations of receiving gratification, corrupt demands and abuse of office involving transactions valued at $4.5 billion and N2.8 billion.
The remaining three counts accuse Omoile of unlawfully accepting gifts.
Both defendants have denied the allegations, and the charges remain before the court.
