The Supreme Court on Friday affirmed the final forfeiture of properties and $2.045 million linked to former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the Federal Government.
In a unanimous judgment, the apex court overturned an earlier decision of the Court of Appeal in Lagos, which had nullified the forfeiture order and directed that the case be retried.
The court held that the appellate court erred in setting aside the judgment of the Federal High Court, which had ordered the permanent forfeiture of the assets after finding they were reasonably suspected to be proceeds of unlawful activities.
The ruling effectively reinstates the judgment delivered on November 1, 2024, by Justice Deinde Dipeolu of the Federal High Court in Lagos.
The assets forfeited include $2.045 million, seven landed properties and two share certificates belonging to Queensdorf Global Fund Limited Trust, all linked to the former CBN governor.
Among the properties are two detached duplexes in Lekki Phase 1, Lagos, an undeveloped parcel of land on Oyinkan Abayomi Drive, Ikoyi, a bungalow and multiple residential buildings in Ikoyi, 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, set aside the forfeiture order, ruling by a majority decision that the matter should return to the lower court for a fresh hearing.
In the lead judgment, Justice Abdulazeez Anka held that Emefiele's legitimate earnings could have financed the acquisition of the properties. However, the appellate court upheld the forfeiture of the $2.045 million, noting that the funds were not contested.
Dissatisfied with the appellate court's decision, the Federal Government challenged the ruling before the Supreme Court.
Delivering its verdict on Friday, the apex court restored the Federal High Court's forfeiture order, bringing the legal dispute over the assets to a close.
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