Rotimi Oyedepo, EFCC counsel, made the submission on Thursday before Deinde Dipeolu, the presiding judge.
The anti-graft agency is seeking the permanent forfeiture of assets, including money, seven landed properties, and shares allegedly acquired by the former CBN governor through proxies.
On August 15, Akintayo Aluko, a vacation judge, issued an interim order of forfeiture against Emefiele following an application filed by Oyedepo.
The court directed the commission to publish the interim forfeiture order in a national newspaper for anyone interested in the properties to appear before the court and show cause within 14 days of why it should not be made in favour of the government.
On September 5, the judge adjourned the case until September 12 to hear all pending applications.
At the resumed session on Thursday, Olalekan Ojo, a senior advocate of Nigeria (SAN), represented Emefiele, while Chibuzor Opara appeared for parties seeking to join the suit.
The parties interested in joining the suit through Okpara served two processes to stay proceedings.
They also filed an affidavit to show cause why the final order of forfeiture should not be made.
But the EFCC lawyer opposed Okpara, noting that he had filed a counter affidavit to the motion asking the court to stay proceedings.
“In line with the spirit of section 17 of the Advance Fee Fraud Act, we have filed a motion for final forfeiture,” Oyedepo said.
“In an order for interim forfeiture, it is well couched that whoever has an interest should file an application to show cause and not for a stay of proceedings.”
He urged the court to refuse the “dangerous application to hear the motion for stay”.
Rotimi added that “as it were, there is $2.5 million recovered in the cause of investigation, which nobody laid claim to”.
In his reply, Emefiele’s lawyer said the court had slated Thursday’s proceedings “for the hearing and determination of an application for stay”.
“The court can’t reverse itself because the rule of consistency applies to both the court and counsels,” Ojo said.
After listening to all arguments from parties, Dipeolu adjourned till October 4 for further proceedings.
