The Supreme Court has restored the final forfeiture of seven high-value properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, overturning an earlier judgment of the Court of Appeal that ordered a retrial of the case.
In a unanimous decision delivered on Friday, a five-member panel of the apex court, led by Justice Ibrahim Saulawa, allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC) and set aside the judgment of the Court of Appeal, Lagos Division, which had nullified the forfeiture order issued by the Federal High Court in Lagos.
The judgment of the Supreme Court was read by Justice Mohammed Idris on behalf of the panel.
With the ruling, the apex court affirmed the decision of Justice Deinde Dipeolu of the Federal High Court, who on November 1, 2024, ordered the final forfeiture of the assets to the Federal Government after holding that they were reasonably suspected to be proceeds of unlawful activities.
The EFCC’s appeal was argued by a legal team led by former Attorney General of the Federation, Kanu Agabi (SAN), with the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), also appearing for the Commission.
Emefiele was represented by Senior Advocates of Nigeria, Olalekan Ojo and Labi Lawal.
The Supreme Court’s decision effectively ends Emefiele’s legal challenge to the Federal High Court’s forfeiture order and vests the affected assets in the Federal Government.
The forfeited properties include two fully detached duplexes located at 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi; a bungalow at 65A Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12A Probyn Road, Ikoyi; an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight apartment units on Adekunle Lawal Road, Ikoyi; and a duplex situated on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.
Justice Dipeolu had also ordered the forfeiture of 2.045 million US dollars in cash and share certificates belonging to Queensdorf Global Fund Limited Trust, an aspect of the case that was not contested by the defendant.
In November 2024, the Federal High Court granted the EFCC’s application for the final forfeiture of the assets after finding that the Commission had established reasonable grounds to believe they were acquired with proceeds of unlawful activities.
However, in June 2025, the Court of Appeal in Lagos overturned the decision, holding that individuals claiming ownership of some of the properties were denied a fair hearing. It subsequently ordered the case to be returned to the Federal High Court for fresh proceedings and the presentation of evidence by all parties.
Dissatisfied with the appellate court’s ruling, the EFCC approached the Supreme Court, seeking the restoration of the Federal High Court’s judgment.
In its final decision, the Supreme Court upheld the Commission’s appeal, set aside the judgment of the Court of Appeal and reinstated the final forfeiture order, bringing the legal dispute over the assets to a close.
