The Supreme Court has upheld the final forfeiture of seven properties and $2.045 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, ruling that the assets should be transferred to the Federal Government.
The apex court, in a unanimous judgment delivered on Friday by Justice Mohammed Idris on behalf of a panel led by Justice Ibrahim Mohammed Musa Saulawa, overturned an earlier decision of the Court of Appeal that had nullified the forfeiture order and directed a fresh hearing of the case.
The Supreme Court affirmed the 2024 judgment of the Federal High Court in Lagos, where Justice Dehinde Dipeolu granted the Economic and Financial Crimes Commission (EFCC)’s application for the final forfeiture of the assets after finding that the anti-graft agency had sufficiently established its case.
The appellate court had earlier ruled in Emefiele’s favour in 2025, setting aside the forfeiture order and ordering the matter to be reheard by the Federal High Court. However, the EFCC challenged that ruling before the Supreme Court.
Representing the EFCC at the apex court were former Attorney-General of the Federation, Chief Kanu Agabi (SAN), Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), and Abba Mohammed (SAN).
The Supreme Court agreed with the commission’s arguments, holding that the Court of Appeal erred in overturning the Federal High Court’s decision. It consequently restored the original forfeiture order in its entirety.
Emefiele was represented by a legal team led by Olalekan Ojo (SAN), alongside Labi Lawal (SAN) and Olawale Fapohunda.
The forfeited assets include two detached duplexes located at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi; a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi; and a four-bedroom duplex at No. 12A Probyn Road, Ikoyi.
Other assets covered by the order include an industrial complex under construction on 22 plots of land in Agbor, Delta State, eight apartment units on Adekunle Lawal Road in Ikoyi, and a duplex on Bank Road, Ikoyi.
The judgment also restored the forfeiture of $2.045 million in cash and share certificates belonging to Queensdorf Global Fund Limited.
With the Supreme Court’s ruling, all the listed assets are to be permanently transferred to the Federal Government in line with the final forfeiture order granted by the Federal High Court.
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