Category Nigeria News

The Central Bank of Nigeria (CBN) has urged the Federal High Court Abuja to dismiss a forfeiture case brought by the Economic and Financial Crimes Commission (EFCC) against a N2.7 billion property (located at Plot 781, Cadastral Zone 001, Karmo District) used as collateral to secure a loan from the apex bank through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL).

Counsel for the CBN, Joseph Abah, told the court that the apex bank had filed court documents seeking to join the EFCC case and argue for its outright dismissal through its proposed counter-affidavit and written address to show cause.

The legal dispute arose after the EFCC, on August 8, 2024, filed an originating motion ex parte requesting the court’s approval for the interim attachment/forfeiture of Plot 781, Cadastral Zone 001, Karmo District, Abuja.

The EFCC legal team also sought a court order authorizing the anti-graft agency to appoint a competent person or firm to manage the asset temporarily forfeited to the federal government pending the conclusion of investigations and possible prosecution of Toks Properties Limited.

READ ALSO: Court Orders Final Forfeiture Of Another $1.4m ‘ Linked ‘ To Emefiele

Justice Emeka Nwite had, on September 3, 2024, granted the EFCC’s request while prohibiting any disposal, lease, sale, or mortgage of the property in line with the agency’s application.

At the resumed hearing on Thursday, the CBN lawyer and another lawyer representing Salis Ventilated Homes Limited stated that they had separately filed applications to join as parties (defendants) in the EFCC forfeiture case.

In the CBN’s court filings, the apex bank argued that it is responsible for the monitoring and regulation of banks and all banking activities in Nigeria.

The CBN legal team, including Abah, stated that sometime in 2020, the CBN, through NIRSAL under its Anchor Borrowers ‘ Programme (ABP), granted a loan of N3, 872, 882, 250.00 to Sadolen Interworld Limited to finance rice production.

According to the CBN, the loan had a tenor of 12 months and was secured by a third-party collateral belonging to Messrs Toks Properties Limited, which served as surety for the loan transaction.

“The said collateral (property), which is located in the Karmo District of the Federal Capital Territory, is valued at N2.7 billion”, the CBN stated.

The apex bank added that during the loan transaction, the surety executed a Deed of Legal Mortgage in favor of the CBN through NIRSAL, and the original title document of the collateral was deposited and handed over to NIRSAL.

Additionally, the CBN explained that the surety executed an undertaking not to alienate, sell, or transfer the property without the prior written approval of the CBN through NIRSAL.

The apex bank stressed that “the loan sum has not been discharged, and the subject property remains the security for the mortgage”, maintaining that the CBN has an equitable interest in the property.

The bank, therefore, asked the court to allow it to join the case as a defendant so it could present its arguments through its proposed counter-affidavit and affidavit to show cause.

The CBN further submitted, through its affidavit to show cause, that the court cannot grant a forfeiture order over the property, as doing so would prejudice the legal and equitable rights of the CBN, which retained the right to hold the property until the loan is fully discharged.

“We urge the Honourable Court to resolve the sole issue in favour of the respondent (CBN), set aside the interim forfeiture order, and dismiss the instant suit (by the EFCC) for want of jurisdiction”, the CBN stated in its court filings.

Justice Emeka Nwite asked the CBN lawyer whether he had served the EFCC legal team with the court processes, to which Abah responded in the affirmative.

The EFCC legal team informed the judge that they had received the CBN’s documents that day and would need time to file a formal response.

The EFCC maintained that the anti-graft agency merely sought to preserve the property pending the outcome of its financial crimes investigation against the parties involved.

Senator Natasha Akpoti-Uduaghan described her Red Chambers suspension as “an injustice that will not be tolerated.” &nbsp,

Following her allegations of sexual harassment against Senate President Godswill Akpabio, the Peoples Democratic Party (PDP) lawmaker received a six-month suspension on Thursday after the Senate disciplinary committee found her guilty.

However, a furious Senator, Natasha, reproached her for her suspension and vowed to carry on the fight.

The Kogi Central Senator remarked, “This injustice would not endure.”

The Senate criticized the Senator representing Kogi Central, Natasha Akpoti-Uduaghan, for her six-month suspension, calling it a “vicious abuse of power,” according to former minister of education Oby Ezekwesili. &nbsp,

Ezekwesili claimed in a post on X (formerly Twitter) on Thursday that the red chambers “decided to choose the ignoble path of vicious abuse of power and desecration of our public institution” rather than investigate the sexual harassment allegations made by Natasha against Senate President Godswill Akpabio.

Read Remi Tinubu’s alleged sexual slurs, Natasha’s story, in the mirror.

We all must remember what history reveals about the men who have been able to speak as they are God because of how little power they have acquired.

“Senator Natasha Akpoti-Uduaghan,” You have given a generation your inspiration. You have enthralled all citizens who are trustworthy. You can never go alone, she said.

Sensible Nigerians have all asked the @NGRSenate to investigate the accusations of sexual harassment, but they have instead chosen the ignoble path of vicious abuse of power and desecration of our public institution @nassnigeria.

The…

Before the International Women’s Day on March 8, 2025, Natasha was suspended.

On February 20, 2025, Akpoti-Uduaghan, a representative for the Kogi Central Senatorial District, rejected the order of the Senate President.

The female senator referred her to the senate disciplinary committee after the Akpabio-led upper legislative chamber received complaints about the senate president’s harassment and a N100bn alleged defamation lawsuit against him.

The Senate Committee on Ethics, Code of Conduct, and Public Petitions dismissed Akpoti-Uduaghan’s sexual harassment and abuse of office petition on March 5, 2025, declaring it “dead on arrival” due to procedural violations and legal restrictions.

The committee explained that Akpoti-Uduaghan signed the petition herself rather than receiving its endorsement, thereby rendering it procedurally invalid.

Additionally, the committee made note of the fact that the petition’s issues were already before the court, giving them a subpoena and voiding the Senate’s authority. However, the female senator resubmitted the petition on Thursday.

Akpabio earlier denied the Kogi lawmaker’s accusations of sexual harassment against him.

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The final forfeiture of another $1.4 million in connection with the former Central Bank of Nigeria governor, Godwin Emefiele, has been ordered by a Federal High Court in Lagos.

The Economic and Financial Crimes Commission and Justice Olayinka Faji agreed in his ruling on Thursday that the money was the result of unlawful activity and must be forfeited to the Federal Government.

The EFCC had informed the court that the sum of $1, 426, 175.14 was discovered in the account of Donatone Limited at Titan Trust Bank (Account No. ). 2000000500), and that investigations established a link between the funds and deceptive practices.

According to an affidavit from an EFCC investigator, David Jayeoba, funds were discovered in Donatone Limited’s account after being deposed by an affidavit.

Also read: Senate Suspends Natasha Akpoti-Uduaghan For Six Months

Emefiele and his associates, including Donatone Limited directors Uzeobo Anthony and Adebanjo Olurotimi, were allegedly involved in a scheme that helped conceal and conceal the proceeds of the illicit activities, according to Jayeoba.

According to the court documents, Jaiyeoba further stated that “that investigation revealed that Uzeobo Anthony and Adebanjo Olurotimj men are some of the brains behind the financial e n t concealment of funds reasonably suspect to have been the proceeds of the former Central Bank of Nigeria’s governor, Godwin Emefiele.”

That Emefiele purchased both men and used them to conceal, keep, and conceal funds that were logically thought to be the proceeds of illegal activities.

“That both men used Donatone Ltd. to collect bribes and gratification on Emefiele’s behalf to obtain permission to access Forex.”

The Senate has suspended Senator Natasha Akpoti-Uduaghen for six months for violation of the Red Chambers rules. &nbsp,

Her suspension followed her dispute with Senate President Godswill Akpabio who she accused of sexual harassment, a claim the latter has denied.

“That the Senate do suspend Senator Natasha Akpoti-Uduaghan for six months for her total violation of the Senate Standing Rules (2023 as amended for bringing the presiding officer and the entire Nigerian Senate to public opprobrium”, Senate President Godswill Akpabio said on Thursday while reading out the recommendations of the Committee on Ethics, Privileges, and Code of Conduct probing her claims. &nbsp,

Despite efforts by some senators to reduce the suspension period to three months, the Senate, in a majority vote, sustained the initial decision.

However, the lawmakers ruled that the suspension could be lifted or reduced if she tenders a written apology.

“For the Senate to consider lifting this suspension or reducing the tenure of the suspension, Senator Natasha Akpoti-Uduaghan shall submit a written apology to the Senate before her reconsideration by the Nigerian Senate”, Akpabio said at the Red Chambers on Thursday. &nbsp,

It, however, agreed that her aides ‘ salaries be paid, contrary to the recommendation of the committee.

“The aides of Natasha are not Natasha”, Senator Orji Kalu said while calling for an amendment to the sanctions. “It would be wrong for this Senate to deprive these aides of their allowances”.

Following her suspension, the Kogi Central lawmaker was escorted out of the chambers by the Sergeant-At-Arms, but before she left she declared that “this injustice would not be sustained”.

READ ALSO: &nbsp, Senate Committee Dismisses Natasha’s Petition Against Akpabio

Her suspension was recommended by the committee which found her guilty of a violation of the Senate’s rules after its investigation. &nbsp,

The Peoples Democratic Party (PDP) lawmaker’s suspension is the culmination of weeks of claims and counter-claims between her, Akpabio, and the Senate. &nbsp,

This controversy began on February 20, 2025, after a seating arrangement dispute with Senator Akpabio. Thereafter, Senator Natasha accused the Senate president of sexual harassment and alleged abuse of office. &nbsp,

She submitted a petition on the floor of the upper lawmaking body on Wednesday. But the Senate Committee on Public Conduct, Ethics, Privileges, and Public Petitions headed by Neda Imaseun (Edo South) dismissed her claims. It declared her petition “dead on arrival”, owing to what it described as a breach of due process and legal limitations. &nbsp,

READ ALSO: Akande Accuses Senate Of ‘ Ganging Up ‘ Against Natasha, Nwaebonyi Defends Red Chamber

According to the committee, the senator personally signed the petition, instead of getting someone else’s endorsement, thus rendering it “invalid”.

Senator Natasha, hours after that, re-submitted her petition. However, on the same day, the Imasuen-led committee recommended her suspension for the violation of the Senate rule, a move ratified by the Red Chambers. &nbsp,