Supreme Court Restores Emefiele Asset Forfeiture

The Supreme Court has restored the final forfeiture of seven luxury properties linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, overturning an earlier judgment of the Court of Appeal that ordered a retrial of the case.

A five-member panel of the apex court, led by Justice Ibrahim Saulawa, unanimously ruled in favour of the Economic and Financial Crimes Commission (EFCC), setting aside an earlier decision of the Court of Appeal, Lagos Division, which had nullified the forfeiture order made by the Lagos High Court.

The judgment was delivered on Friday and read by Justice Mohammed Idris.

The decision reinstated the November 1, 2024, ruling of Justice Deinde Dipeolu of the Lagos High Court, which ordered the final forfeiture of the properties after finding they were suspected to be proceeds of unlawful activities.

The EFCC’s appeal was argued by former Attorney General of the Federation, Kanu Agabi (SAN), while Godwin Emefiele was represented by Senior Advocates of Nigeria, Olalekan Ojo and Labi Lawal.

Godwin Emefiele, Former CBN Governor. Credit: Vanguard News.

The properties returned to the Nigerian Government include two fully detached duplexes 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 units of apartments on Adekunle Lawal Road, Ikoyi; and a duplex on a 2,217.87 square metre plot at 2A Bank Road, Ikoyi.

The court also upheld the forfeiture of 2.045 million US dollars in cash and share certificates belonging to Queensdorf Global Fund Limited Trust, which was not challenged.

In June 2025, the Court of Appeal overturned the forfeiture, ruling that some people claiming ownership of the properties were denied a fair hearing and ordering the case to be retried.

The EFCC challenged that decision at the Supreme Court.

The apex court agreed with the anti-graft agency, overturned the Appeal Court’s ruling and restored the Nigerian High Court’s final forfeiture order, officially transferring the assets to the Nigerian Government.

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