EFCC Files Fresh Charges Against Emefiele Over Alleged Theft and Acquisition of 753-Unit Estate in Abuja

In a significant development, the Economic and Financial Crimes Commission (EFCC) has filed new charges against former Central Bank of Nigeria (CBN) Governor Godwin Emefiele. He is accused of illegally acquiring a 753-unit housing estate in Abuja and laundering billions of naira through proxy accounts during his tenure.

Details of the allegations

The EFCC’s eight-count charge, submitted on Friday to the High Court of the Federal Capital Territory (FCT), alleges that Emefiele, in collaboration with an associate, Eric Ocheme (who is currently at large), illegally acquired the property at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja.

The property covers approximately 150,462.86 square meters and includes 753 housing units. Investigations revealed that between 2019 and 2022, Emefiele allegedly funneled billions of naira into accounts held by proxies.

The EFCC highlighted several financial transactions involving two entities: Kelvito Integrated Services and Ifedigo Integrated Services, both of which have bank accounts at Zenith Bank Plc. According to the charge sheet:

• In 2019, ₦167 million was traced to a proxy account at Zenith Bank.
• In 2020, ₦1.23 billion was allegedly stored in the account of Kelvito Integrated Services.
• In 2021, the same account contained ₦2.94 billion.
• In 2022, an additional ₦1.98 billion was kept in that account, along with ₦900 million that was also held in the account of Ifedigo Integrated Services during the same year.
• An extra ₦600 million was later traced to the same Ifedigo account.

The EFCC asserts that these funds are “reasonably suspected to have been unlawfully obtained” and were under Emefiele’s control while he served as the CBN governor.

Court seizure and appeal

Before filing the charges, the EFCC obtained a court order to seize the entire estate in question, which has since been handed over to the federal government. However, Emefiele has challenged this seizure by filing an appeal at the Court of Appeal in Abuja, seeking to overturn the judgment and regain ownership. He claims that he was not given adequate notice of the forfeiture proceedings and that the EFCC deliberately concealed the process.

Forgery allegations

In a separate count, the EFCC accuses Emefiele of document forgery. He allegedly fabricated a document titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited” in January 2021, intending to falsely present it as legitimately issued by H and Y Business Global Limited.

These charges violate Sections 319, 362, and 364 of the Penal Code, which address offenses related to theft, conspiracy, and forgery.

Multiple investigations underway

Emefiele, who served as CBN governor from 2014 until his suspension and subsequent arrest in June 2023 under President Bola Tinubu’s administration, is currently under multiple investigations. In addition to this case, he faces other corruption-related trials in both Lagos and Abuja.

In Lagos, he is being prosecuted for alleged fraudulent foreign exchange transactions totaling $2 billion, along with charges of criminal conspiracy, abuse of office, conferring undue advantage, and breach of public trust. Despite these allegations, Emefiele has consistently denied any wrongdoing.

Prosecution strategy

The EFCC has lined up at least 24 witnesses to testify regarding the acquisition and development of the estate in Lokogoma. These witnesses are expected to provide both documentary and oral evidence detailing their roles and knowledge of the transactions.

Government’s next steps

The Ministry of Housing an Urban Development has taken possession of the estate. They plan to assess, complete, and sell the housing units to the public. Minister Ahmed Dangiwa stated that the ministry will conduct thorough integrity and structural assessments of all buildings and associated infrastructure to ensure their safety and suitability for habitation. The units will be sold to the public and for special government needs through a transparent and competitive process.

The charges against Emefiele add to the growing list of criminal allegations since his controversial removal from office in 2023. This development highlights the federal government’s renewed efforts to combat financial crimes involving former public officials. The outcome of these proceedings will be closely monitored as an indicator of Nigeria’s commitment to fighting corruption and ensuring accountability at the highest levels of government. This is a developing story, and further updates will be provided as more information becomes available.