The Economic and Financial Crimes Commission (EFCC) has levelled new accusations against Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), alleging that he unlawfully acquired a 753-unit housing estate in Abuja and mismanaged billions of naira through proxy accounts during his leadership.
In an eight-count charge submitted to the Federal Capital Territory High Court in Abuja, as reported by Premium Times, the EFCC claims that Emefiele conspired with an associate, Eric Ocheme (who remains at large), to secure the estate situated at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja. The property, covering approximately 150,462.86 square metres, consists of 753 housing units.
The EFCC asserts that Emefiele and Ocheme executed the acquisition in August 2021. Additionally, the agency has accused Emefiele of laundering billions of naira through firms such as Kelvito Integrated Services and Ifeadigo Integrated Services, utilising multiple Zenith Bank accounts suspected of holding illicit funds.
The allegations detail that between 2019 and 2022, Emefiele maintained substantial amounts in proxy accounts: ₦167 million in 2019, ₦1.23 billion in 2020, ₦2.94 billion in 2021, and ₦1.98 billion in 2022, all associated with Kelvito Integrated Services. Furthermore, it is claimed that an additional ₦900 million was held in an Ifeadigo Integrated Services account by the former CBN governor.
It is noteworthy that the EFCC has transferred ownership of the estate to the Federal Government following a court order for its forfeiture. However, Emefiele is vigorously contesting this ruling at the Court of Appeal in Abuja, seeking to overturn the judgment that awarded the estate to the Nigerian government.
In November 2023, Emefiele was remanded at Kuje Correctional Centre over alleged procurement fraud amounting to N1.6 billion, after being arraigned on a six-count charge before an FCT High Court.
Earlier, on March 7, 2023, the ICIR reported that a forensic analyst testified in court, confirming that Emefiele had submitted forged documents to facilitate a $6.2 million payment to foreign election observers. The analyst, Bamaiyi Meriga, provided evidence of forgery regarding the signature and seal of execution, differing from the authentic documentation.
In a separate case in April 2024, a Lagos State High Court granted Emefiele bail of N50 million for abuse of office and other related charges. Judge Rahmon Oshodi approved the bail application, requiring two sureties of equivalent value. The former CBN governor continues to face multiple fraud-related cases across various courts.
