Emefiele is now facing fresh charges tied to a huge real estate acquisition and suspicious financial transactions.
In court documents dated May 30, 2025 (case number CR/350/25), the EFCC claims that Emefiele, along with an associate named Eric Ocheme (who is currently on the run), illegally acquired a large housing estate consisting of 753 buildings.
The property, located in Lokogoma, Abuja, covers more than 150,000 square metres.
This same estate was previously taken over by the EFCC from a former high-ranking government official.
A court in Apo, Abuja, had ordered it to be permanently forfeited to the federal government.
Emefiele tried to overturn that ruling but failed. His appeal is currently pending in a higher court, and he has filed a request to stop the government from selling the estate until the appeal is resolved.
The federal government plans to sell the estate to Nigerians in the low- and middle-income brackets.
The EFCC filed an eight-count charge listing Emefiele as the only defendant. Here’s a summary of what he’s being accused of:
The EFCC, in an eight-count charge naming Emefiele as the sole defendant, alleged that he knowingly controlled property reasonably suspected to have been unlawfully acquired.
The charges also claimed violations under Section 319(A) of the Penal Code Law, Cap. 89, Laws of the Federation, 1990.
In August 2021, Emefiele and Eric Ocheme are alleged to have knowingly controlled property located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja.
Between January and December 2019, Emefiele and Ocheme are accused of controlling N167,300,000 (one hundred and sixty-seven million, three hundred thousand naira) in Kelvito Integrated Services’ Zenith Bank account.
This sum is reasonably suspected to have been unlawfully obtained.
COUNT 3: CONTROL OF FUNDS IN 2020
From January to December 2020, the duo allegedly had under their control the total sum of N1,235,959,000 (one billion, two hundred and thirty-five million, nine hundred and fifty-nine thousand naira) in Kelvito Integrated Services’ account No: 1016232915 with Zenith Bank Plc.
Between January and December 2021, Emefiele and Ocheme are said to have controlled N2,945,331,050 (two billion, nine hundred and forty-five million, three hundred and thirty-one thousand fifty naira) in Kelvito Integrated Services’ Zenith Bank account.
From January to December 2022, they are accused of controlling N1,985,412,246 (one billion, nine hundred and eighty-five million, four hundred and twelve thousand, two hundred and forty-six naira) in the same Kelvito Integrated Services’ Zenith Bank account.
Emefiele and Ocheme allegedly controlled the total sum of N900,000,000 (nine hundred million naira) in Ifedigo Integrated Services’ account No: 1210750237 with Zenith Bank Plc.
This sum is reasonably suspected to have been unlawfully obtained.
In August 2021, in Abuja, Emefiele and his alleged accomplice are claimed to have knowingly controlled the total sum of N600,000,000 (six hundred million naira) in the same Ifedigo Integrated Services’ account No: 1210750237 with Zenith bank Plc.
This sum is also reasonably suspected to have been unlawfully obtained.
In January 2021, Emefiele was accused of forging a document titled ‘Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited’ to mislead others into believing it was authorised by H and Y Business Global Limited.
The EFCC has lined up 24 witnesses, including staff from Zenith and Access banks, who are expected to testify when the trial begins.
KanyiDaily recalls that the FG recently announced plans to sell 753 housing units that were seized from former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
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