The Supreme Court on Friday ordered the final forfeiture of seven high-value properties and $2.045 million linked to former Central Bank of Nigeria Governor, Godwin Emefiele, to the Federal Government.
The apex court set aside a previous Court of Appeal judgment that had quashed the forfeiture order and directed that the case be reheard by the Federal High Court.
Delivering a unanimous judgment on behalf of a panel led by Justice Ibrahim Mohammed Musa Saulawa, Justice Mohammed Idris upheld the 2024 ruling by Justice Dehinde Dipeolu of the Federal High Court in Lagos, which had granted the Economic and Financial Crimes Commission’s (EFCC) application for final forfeiture of the assets.
The court held that the Court of Appeal erred when it nullified the forfeiture order and ordered fresh proceedings.
Emefiele, represented by his legal team led by Olalekan Ojo, SAN, had approached the Court of Appeal after the Federal High Court ruling. The appellate court sided with him in 2025, cancelling the forfeiture and ordering the case restarted.
The EFCC challenged that decision at the Supreme Court, with the anti-graft agency represented by 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 ruled in the EFCC’s favour, voiding the Court of Appeal judgment and fully restoring Justice Dipeolu’s original forfeiture order.
The seized properties, located in Lagos and Delta states, include two detached duplexes at Hakeem Odumosu Street, Lekki Phase 1; an undeveloped 1,919.592 square-metre plot on Oyinkan Abayomi Drive, Ikoyi; a bungalow on the same street; a four-bedroom duplex on Probyn Road, Ikoyi; an industrial complex under construction on 22 plots in Agbor, Delta State; eight apartment units on Adekunle Lawal Road, Ikoyi; and a duplex on Bank Road, Ikoyi.
The court also reinstated the forfeiture of $2.045 million in cash and share certificates belonging to Queensdorf Global Fund Limited.
The affected assets will now be transferred to the Federal Government in line with the Supreme Court’s judgment.
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