The Supreme Court has reinstated the final forfeiture of seven high-value properties linked to the former Governor of the Central Bank of Nigeria, Godwin Emefiele, effectively overturning a previous Court of Appeal judgment that had nullified the order and directed a retrial.
In a unanimous decision delivered on Friday, a five-member panel of the apex court led by Justice Ibrahim Saulawa allowed the appeal, setting aside the decision of the Court of Appeal, Lagos Division.
The appellate court had previously nullified the final forfeiture order granted by the Federal High Court in Lagos and ordered that the case be heard afresh, arguing that interested parties claiming ownership of certain assets were not afforded a fair hearing.
However, the Supreme Court’s ruling restores the trial court’s original decision, permanently vesting the properties in the Federal Government.
This decision concludes Mr. Emefiele’s legal challenge against the initial forfeiture order issued by Justice Dehinde Dipeolu of the Federal High Court on November 1, 2024.
The forfeited assets include:
-
Two fully detached duplexes at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos.
-
An undeveloped plot measuring 1,919.592 sqm at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos.
-
A bungalow at No. 65A, Oyinkan Abayomi Drive, Ikoyi, Lagos.
-
A four-bedroom duplex at 12A, Probyn Road, Ikoyi, Lagos.
-
An industrial complex under construction on 22 plots of land in Agbor, Delta State.
-
Eight units of an undetached apartment on a plot measuring 2,457.60 sqm at No. 8A, Adekunle Lawal Road, Ikoyi.
-
A full duplex with amenities on a plot measuring 2,217.87 sqm at 2a Bank Road, Ikoyi, Lagos.
The order also includes the forfeiture of $2.045 million and two share certificates of Queensdorf Global Fund Limited Trust.
The EFCC, represented by a team led by Rotimi Oyedepo (SAN), had appealed the appellate court’s decision, successfully urging the Supreme Court to restore the trial court’s judgment.
This ruling follows a series of high-profile legal battles surrounding the former CBN Governor’s assets, including the permanent forfeiture of $1.4 million ordered by the Federal High Court earlier in 2025.
