Supreme Court Restores Final Forfeiture of Emefiele's Properties.

The Supreme Court of Nigeria has overturned a Court of Appeal judgment and reinstated the final forfeiture of seven high-value properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.

In a unanimous ruling delivered on Friday, a five-member panel led by Justice Ibrahim Saulawa allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC), setting aside the Court of Appeal's earlier decision that had nullified the forfeiture order and directed a fresh hearing.

The apex court restored the judgment of the Federal High Court in Lagos, confirming that the properties are to remain permanently forfeited to the Federal Government. The decision effectively ends Emefiele's legal challenge against the forfeiture.

The assets include luxury residential properties in Ikoyi and Lekki, Lagos, an industrial complex under construction in Agbor, Delta State, and other valuable real estate. The forfeiture also covers $2.045 million and two share certificates linked to Queensdorf Global Fund Limited Trust.

The Federal High Court had initially ordered the final forfeiture in November 2024 after the EFCC argued that the assets were proceeds of unlawful activities. However, the Court of Appeal later ruled that individuals claiming ownership of some of the properties were denied a fair hearing and ordered a retrial.

Following the EFCC's appeal, the Supreme Court ruled that the original forfeiture order was valid and reinstated it, officially vesting the listed properties in the Federal Government. The judgment marks the conclusion of the long-running legal dispute over the assets linked to the former CBN governor.

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