The Supreme Court has affirmed the final forfeiture of properties and $2.045 million linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered on Friday, the apex court overturned an earlier decision of the Court of Appeal in Lagos, which had set aside the forfeiture order and directed that the case be reheard by the trial court.
The Supreme Court held that the appellate court erred in nullifying the judgment of the Federal High Court, which had ordered the permanent forfeiture of the assets on the grounds that they were reasonably suspected to have been acquired from proceeds of unlawful activities.
The forfeiture order, initially granted on November 1, 2024, by Justice Deinde Dipeolu of the Federal High Court in Lagos, covered $2.045 million, seven high-value properties located in Lagos and Delta states, as well as two share certificates belonging to Queensdorf Global Fund Limited Trust.
The affected properties include duplexes and other residential buildings in Lekki and Ikoyi, Lagos, as well as an industrial complex under construction on 22 plots of land in Agbor, Delta State.
The Court of Appeal had in June 2025 overturned the forfeiture order and directed a retrial, with the majority judgment holding that Emefiele’s legitimate earnings could have been sufficient to acquire the properties. However, the appellate court upheld the forfeiture of the $2.045 million to the Federal Government.
With Friday’s verdict, the Supreme Court restored the original judgment of the Federal High Court, effectively confirming the permanent forfeiture of the properties, funds and related assets linked to the former CBN governor.
