The Economic and Financial Crimes Commission (EFCC) has brought new charges against the former governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, who is facing legal difficulties.
These charges, submitted to a High Court in Abuja, accuse Emefiele of illegally acquiring a housing estate containing 753 units and allegedly misappropriating billions of naira through proxy accounts.
The EFCC’s case, referenced as CR/350/25 and dated May 30, 2025, claims that Emefiele collaborated with an individual named Eric Ocheme, who is currently at large, to secure the estate and the funds.
The estate in question, situated at Plot 109, Cadastral Zone C09, Lokogoma District, FCT, Abuja, covers an area of 150,462.86 square meters and features 753 housing units.
Previously, the EFCC seized the estate from an unnamed former senior government official and gained a forfeiture order from the Federal Capital Territory High Court in Apo, Abuja.
Emefiele, through his attorney A.M. Kotoye (SAN), sought to intervene in the case, but the court dismissed his motion. Unhappy with this outcome, he appealed to the Court of Appeal in Abuja in an attempt to reverse the High Court’s forfeiture decision.
The estate has since been transferred to the Federal Government, which plans to sell it to low and middle-income Nigerians. Nevertheless, Emefiele has filed a notice of injunction to prevent any further actions regarding the property until his appeal is resolved.
In an eight-count charge, Emefiele is identified as the sole defendant and stands accused of knowingly possessing property that is suspected to have been unlawfully obtained, as well as violating Section 319(A) of the Penal Code Law, Cap. 89, Laws of the Federation, 1990.
The eighth count alleges that Emefiele forged a document in January 2021, titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited,” to deceive others into thinking it was officially sanctioned by H and Y Business Global Limited.
The EFCC has named 24 witnesses, including representatives from Zenith Bank and Access Bank, who will testify when the trial commences.
Emefiele was the governor of the CBN from 2014 until June 2023, when he was detained by the Department of State Services and subsequently resigned while in custody.
