Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has lost his legal battle to reclaim seven high-value properties after the Supreme Court reinstated their final forfeiture to the Federal Government.
In a unanimous judgment delivered on Friday, a five-member panel of the apex court led by Justice Ibrahim Saulawa overturned the earlier decision of the Court of Appeal, Lagos Division, which had nullified the forfeiture order and directed a fresh hearing.
By restoring the Federal High Court’s ruling, the Supreme Court affirmed that the seven properties would remain permanently forfeited to the Federal Government, effectively bringing Emefiele’s challenge to the asset seizure to an end.
The appellate court had earlier set aside the forfeiture order granted by the Federal High Court in Lagos. However, the apex court held that the trial court’s decision was valid and should stand.
The assets were originally forfeited on November 1, 2024, when Justice Dehinde Dipeolu of the Federal High Court, Ikoyi, Lagos, granted the Economic and Financial Crimes Commission’s (EFCC) application for a final forfeiture order.
The order covered seven landed properties, $2.045 million and two share certificates belonging to Queensdorf Global Fund Limited Trust, all linked to the former CBN governor.
The EFCC’s application was argued by a legal team led by Senior Advocate of Nigeria (SAN), Rotimi Oyedepo.
The Supreme Court’s judgment brings the legal dispute over the forfeited assets to a close, with the Federal Government retaining ownership of the properties.
