The Supreme Court has restored the final forfeiture of seven high-value properties and $2.045 million linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in favour of the Federal Government.

The apex court overturned an earlier judgment of the Court of Appeal, which had nullified the forfeiture order and directed that the matter be retried at the Federal High Court.

In a unanimous judgment delivered on Friday, Justice Mohammed Idris, speaking on behalf of a panel led by Justice Ibrahim Mohammed Musa Saulawa, upheld the 2024 decision of the Federal High Court in Lagos.

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The Supreme Court ruled that the Court of Appeal erred in overturning the forfeiture order previously granted by Justice Dehinde Dipeolu of the Federal High Court.

Justice Dipeolu had approved the Economic and Financial Crimes Commission’s (EFCC) application for the permanent forfeiture of the assets after finding that the anti-graft agency had sufficiently established that the properties and funds were linked to unlawful activities.

Following the judgment, Emefiele, through his legal team led by Senior Advocate of Nigeria (SAN) Olalekan Ojo, appealed the decision.

The Court of Appeal, in 2025, ruled in his favour, setting aside the forfeiture order and directing that the case be heard afresh by the lower court.

The EFCC subsequently challenged that ruling before the Supreme Court.

Represented by former Attorney-General of the Federation Chief Kanu Agabi (SAN), Director of Public Prosecutions Rotimi Oyedepo (SAN) and Abba Mohammed (SAN), the EFCC urged the apex court to restore the original forfeiture order.

After reviewing the appeal, the Supreme Court allowed the commission’s application, nullified the Court of Appeal’s judgment and reinstated the Federal High Court’s final forfeiture order in its entirety.

Emefiele was represented before the Supreme Court by Olalekan Ojo (SAN), Labi Lawal (SAN) and Olawale Fapohunda.

 Properties and Funds Forfeited

The forfeited assets include several luxury properties located in Lagos and Delta states.

Among them are two fully detached duplexes on Hakeem Odumosu Street, Lekki Phase 1, an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi, a bungalow on the same road, and a four-bedroom duplex on Probyn Road, Ikoyi.

Also covered by the forfeiture order are an industrial complex under construction on 22 plots of land in Agbor, Delta State, eight apartment units on Adekunle Lawal Road, Ikoyi, and another duplex situated on Bank Road, Ikoyi.

In addition to the landed properties, the Supreme Court reinstated the forfeiture of $2.045 million in cash as well as share certificates belonging to Queensdorf Global Fund Limited.

With the judgment, all the listed assets are to be transferred permanently to the Federal Government in line with the final forfeiture order issued by the Federal High Court.