The Economic and Financial Crimes Commission (EFCC) has filed new criminal charges against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, alleging his illegal ownership of a 753-unit housing estate in Abuja and the control of billions of naira funneled through proxy accounts.
The latest charges were filed on May 30, 2025, at the High Court of the Federal Capital Territory under case number CR/350/25. Emefiele is the sole defendant in the eight-count charge and is accused of conspiring with a fugitive associate, Eric Ocheme.
According to court documents, the disputed estate is situated on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja. Spanning more than 150,000 square meters, the property was previously forfeited to the federal government by a court ruling. Authorities now intend to sell it to low- and middle-income earners.
Emefiele, through his lawyer A.M. Kotoye (SAN), challenged the forfeiture but had his case dismissed by the High Court. He has since appealed the ruling and is seeking an injunction to halt the sale of the estate pending the appeal’s outcome.
The EFCC’s charges, based on violations of Section 319(A) of the Penal Code Law, include Count 1: Unlawful control of the Lokogoma property in August 2021, Count 2: Control of ₦167.3 million through Kelvito Integrated Services’ Zenith Bank account in 2019, Count 3: Control of ₦1.24 billion via the same account in 2020, Count 4: Control of ₦2.95 billion in 2021, Count 5: Control of ₦1.98 billion in 2022, Count 6: Control of ₦900 million through Ifedigo Integrated Services’ Zenith Bank account, Count 7: Additional ₦600 million in the same account in 2021, Count 8: Forgery of an “Irrevocable Power of Attorney” document involving MG Properties Limited and H and Y Business Global Limited in January 2021.
The EFCC has lined up 24 witnesses, including officials from Zenith Bank and Access Bank, to testify against the former CBN governor.
Emefiele, who led the apex bank from 2014 until his suspension and subsequent arrest by the Department of State Services in June 2023, is already battling multiple corruption and fraud-related charges in both Abuja and Lagos courts.
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