The Supreme Court has reinstated the final forfeiture of seven luxury properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, reversing an earlier Court of Appeal judgment that ordered the case to be reheard.
A five-member panel of the apex court, led by Justice Ibrahim Saulawa, unanimously upheld the appeal filed by the Economic and Financial Crimes Commission (EFCC), setting aside the Lagos Division of the Court of Appeal’s decision that nullified the forfeiture order of the Federal High Court.
The lead judgment, delivered by Justice Mohammed Idris on behalf of the panel, restored the ruling of Justice Deinde Dipeolu of the Federal High Court in Lagos, who had on November 1, 2024, ordered the permanent forfeiture of the assets to the Federal Government after finding that they were reasonably suspected to have been acquired through unlawful means.
The EFCC’s case before the Supreme Court was argued by a legal team led by former Attorney General of the Federation, Kanu Agabi (SAN), alongside the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN).
Emefiele was represented by Senior Advocates of Nigeria, Olalekan Ojo and Labi Lawal.
Friday’s judgment effectively ends Emefiele’s legal challenge against the forfeiture order and confirms that the assets now belong to the Federal Government.
The properties include two detached duplexes on Hakeem Odumosu Street in Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi; a bungalow on the same road; a four-bedroom duplex on 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 another duplex on 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, a decision that was not contested.
Although the Court of Appeal had overturned the forfeiture in June 2025 on the grounds that some interested parties were denied a fair hearing, the Supreme Court disagreed, upheld the EFCC’s appeal and restored the original forfeiture order in full.