A Federal High Court in Lagos has ordered the final forfeiture of $1.4 million linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Justice Ayokunle Faji issued the ruling on Thursday in a suit filed by the Economic and Financial Crimes Commission (EFCC), stating that the sum was proven to be the proceeds of unlawful activities and must be forfeited to the Federal Government (FG).

The EFCC’s counsel, Bilkisu Buhari-Bala, informed the court that $1,426,175.14 was discovered in account number 2000000500 belonging to Donatone Limited.

According to the anti-graft agency, the said sum was linked to alleged fraudulent schemes involving Emefiele and his associates.

An affidavit deposed by EFCC investigator David Jayeoba revealed that intelligence reports led to the discovery of funds concealed in Donatone Limited’s account.

The EFCC stated that investigations uncovered an alleged scheme where Emefiele allegedly collaborated with Donatone Limited’s directors, Uzeobo Anthony and Adebanjo Olurotimi, to disguise illicit funds.

According to the EFCC, between 2021 and 2022, when Nigeria faced severe foreign exchange shortages, Emefiele and his associates allegedly collected bribes and kickbacks from businesses seeking forex approvals.

One such entity, identified as (NP), reportedly paid $26,552,000 into Donatone Limited’s account in a new-generation bank.

Justice Faji initially ordered an interim forfeiture of the funds on May 30, 2024, a decision that remained uncontested.