A Nigerian court has ordered the forfeiture of cash and several properties linked to former central bank governor Godwin Emefiele, ruling they were "proceeds of unlawful activity."
The Lagos-based court mandated the forfeiture of $4.7 million and almost 831 million naira ($553,166) held in bank accounts, along with various properties.
Earlier this month, another court returned ownership of local lender Keystone Bank Ltd. to the government after nullifying a 2017 sale to private investors allegedly linked to him. Emefiele has denied all charges.
Following Emefiele's suspension, Nigerian President Bola Tinubu initiated an investigation into the central bank’s activities, which uncovered multiple irregularities. Emefiele was subsequently arrested by the nation’s anti-graft agency and put on trial. However, he has yet to be convicted of any offenses.