The Supreme Court has affirmed 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 on Friday by a five-member panel led by Justice Ibrahim Mohammed Saulawa, the apex court set aside the decision of the Court of Appeal and restored the judgment of the Federal High Court in Lagos, which had ordered the forfeiture on the grounds that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
Emefiele had appealed the Federal High Court’s November 1, 2024 forfeiture order, securing a favourable ruling at the Court of Appeal.
However, the Economic and Financial Crimes Commission (EFCC) challenged that decision before the Supreme Court, which has now upheld the trial court’s ruling.
The assets forfeited include a detached duplex on Hakeem Odumosu Street, Lekki Phase 1; an undeveloped parcel of land and multiple residential properties on Oyinkan Abayomi Drive, Probyn Road, Adekunle Lawal Road and Bank Road in Ikoyi, Lagos; as well as an industrial complex under construction on 22 plots of land in Agbor, Delta State.
The apex court also ordered the forfeiture of $2,045,000 and share certificates belonging to Queensdorf Global Fund Limited to the Federal Government.
The forfeiture order was initially granted by Justice D.I. Dipeolu of the Federal High Court, Lagos, following an application filed by the EFCC under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the 1999 Constitution.
