Supreme court orders final forfeiture of Emefiele's properties

The Supreme Court has upheld the final forfeiture of seven landed properties, $2.045 million, and share certificates linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.

In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Mohammed Saulawa, the apex court overturned the earlier decision of the Court of Appeal and restored the judgment of the Federal High Court in Lagos, which had ordered the final forfeiture of the assets.

The ruling followed an appeal by the Economic and Financial Crimes Commission (EFCC) after the Court of Appeal had earlier set aside the forfeiture order obtained by the anti-graft agency.

The assets forfeited include seven high-value properties located in Lekki, Ikoyi and Delta State, an industrial complex under construction in Agbor, $2.045 million, and share certificates belonging to Queensdorf Global Fund Limited.

The Federal High Court had granted the final forfeiture order in November 2024, after the EFCC argued that investigations showed the assets were reasonably suspected to have been acquired through proceeds of unlawful activities.