The Supreme Court, on Friday, restored the final forfeiture of seven high-value properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgement delivered by a five-member panel led by Justice Ibrahim Saulawa, the apex court overturned the judgement of the Court of Appeal, Lagos Division.
The appellate court had earlier nullified the final forfeiture order granted by the Federal High Court in Lagos and ordered that the case be heard afresh.
The ruling brings to a close Emefiele’s legal challenge against the forfeiture order issued by the Federal High Court.
The Court of Appeal had in June 2025 in Lagos set aside that decision, ruling that interested parties who claimed ownership of some of the assets were not afforded a fair hearing.
The appellate court consequently ordered that the matter be returned to the Federal High Court for fresh proceedings and for evidence to be taken from all parties.
Dissatisfied with the decision, the EFCC appealed to the Supreme Court, urging it to restore the trial court’s judgment.
Justice Dehinde Dipeolu of the Federal High Court in Lagos, on Nov. 1, 2024, ordered the final forfeiture of the sum of $2.045 million, seven landed properties, and the two share certificates of Queensdorf Global Fund Limited Trust linked to the former Governor of the Central Bank of Nigeria, Godwin Emefiele.
Dipeolu gave the order following a motion on notice filed and argued by a team of lawyers led by Rotimi Oyedepo, SAN, for the Economic and Financial Crimes Commission.
The forfeited properties are two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos and an undeveloped plot measuring 1919.592 sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos.
Others are a bungalow at No. 65A, Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos, a four-bedroom duplex at 12 A, Probyn Road, Ikoyi, Lagos, an industrial complex under construction on 22 plots of land in Agbor, Delta.
Other properties are eight units of an undetached apartment on a plot measuring 2457.60 sqm at No. 8A, Adekunle Lawal Road, Ikoyi and a full duplex together with all its amenities on a plot of land measuring 2217.87 sqm at 2a Bank Road, Ikoyi, Lagos.
In March 2025, Justice Ayokunle Faji of the Federal High Court in Lagos ordered the permanent forfeiture of $1.4m linked to fraud involving Emefiele.
