The Supreme Court has reinstated the final forfeiture of seven high-value properties linked to former Governor of the Central Bank of Nigeria, Godwin Emefiele. This decision overturns a 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 and set aside the judgment of the Court of Appeal, Lagos Division. The ruling effectively returns the seven properties to the Federal Government through final forfeiture and brings to a close Emefiele’s legal challenge against the forfeiture order.
Federal High Court Rulings
Justice Dehinde Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, on November 1, 2024, ordered the final forfeiture of the sum of $2.045 million, seven landed properties, and the two share certificates of Queensdorf Global Fund Limited Trust linked to the former CBN Governor. Justice Dipeolu gave the order following a motion on notice filed and argued by a team of lawyers led by Rotimi Oyedepo, SAN, for the Economic and Financial Crimes Commission (EFCC).
The forfeited properties include two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped plot measuring 1919.592 sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65A, Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; and a four-bedroom duplex at 12 A, Probyn Road, Ikoyi, Lagos.
Other properties include an industrial complex under construction on 22 plots of land in Agbor, Delta State; 8 units of an undetached apartment on a plot measuring 2457.60 sqm at No. 8A, Adekunle Lawal Road, Ikoyi; and a full duplex together with all its amenities on a plot of land measuring 2217.87 sqm at 2a Bank Road, Ikoyi, Lagos.
In March 2025, Justice Ayokunle Faji of the Federal High Court in Lagos also ordered the permanent forfeiture of $1.4 million linked to fraud involving Godwin Emefiele.
Appeal Court Reversal
However, in June 2025, the Court of Appeal in Lagos set aside that decision, ruling that interested parties who claimed ownership of some of the assets were not afforded a fair hearing. The appellate court consequently ordered that the matter be returned to the Federal High Court for fresh proceedings and for evidence to be taken from all parties.
Supreme Court Verdict
Dissatisfied with the Court of Appeal’s decision, the EFCC appealed to the Supreme Court, urging it to restore the trial court’s judgment. In its judgment delivered on Friday, the Supreme Court upheld the Commission’s arguments, set aside the Court of Appeal’s decision, and reinstated the final forfeiture order issued by the Federal High Court, thereby vesting the listed properties in the Federal Government.
