Supreme Court has uphold the final forfeiture of Godwin Emefiele’s properties and $2.045 million to the federal government.
NewsOnline Nigeria reports that the Supreme Court has upheld the final forfeiture of multiple properties and $2.045 million linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered on Friday, the apex court overturned the earlier decision of the Court of Appeal in Lagos, which had set aside the forfeiture order and directed the case to be retried by the Federal High Court.
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The Supreme Court held that the Court of Appeal erred in law by nullifying the judgment of the trial court, thereby restoring the original forfeiture order.
On November 1, 2024, Justice Deinde Dipeolu of the Federal High Court in Lagos ordered the permanent forfeiture of $2.045 million, seven high-value properties, and two share certificates belonging to Queensdorf Global Fund Limited Trust, all linked to Emefiele.
The trial court ruled that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
Among the forfeited properties are two fully 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 12A Probyn Road, Ikoyi.
Other assets include an industrial complex under construction spanning 22 plots in Agbor, Delta State; eight units of apartments on Adekunle Lawal Road, Ikoyi; and another duplex situated on Bank Road, Ikoyi, Lagos.
In June 2025, the Court of Appeal, in a majority judgment delivered by Justice Abdulazeez Anka, overturned the Federal High Court’s forfeiture order, holding that Emefiele’s legitimate earnings could have funded the acquisition of the properties.
However, the appellate court upheld the forfeiture of the $2.045 million, noting that Emefiele did not challenge that aspect of the trial court’s decision.
With Friday’s judgment, the Supreme Court has fully restored the Federal High Court’s forfeiture order, affirming that the properties and funds should remain forfeited to the Federal Government.
