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 ruling of the Court of Appeal that ordered a fresh hearing of the case.
A five-member panel of the apex court, chaired by Justice Ibrahim Saulawa, unanimously upheld the appeal filed by the Economic and Financial Crimes Commission (EFCC), setting aside the judgment of the Court of Appeal in Lagos, which had nullified the forfeiture order earlier issued by the Federal High Court.
The judgment of the Supreme Court was delivered by Justice Mohammed Idris on behalf of the panel.
The ruling reaffirmed the November 1, 2024 judgment of Justice Deinde Dipeolu of the Federal High Court in Lagos, which ordered that the properties be permanently forfeited to the Federal Government after finding reasonable grounds to believe they were acquired through proceeds of unlawful activities.
The EFCC’s appeal 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.
With the Supreme Court’s verdict, the legal dispute over the assets has been concluded, restoring the Federal High Court’s forfeiture order in favour of the Federal Government.
The affected assets include two fully detached duplexes located 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 apartment units on Adekunle Lawal Road, Ikoyi; and a duplex sitting on a 2,217.87 square metre plot at 2A 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. That aspect of the ruling was not challenged by the defence.
The Federal High Court initially granted the EFCC’s application for final forfeiture in November 2024 after holding that the Commission had sufficiently established that the assets were reasonably suspected to be proceeds of unlawful activities.
However, the Court of Appeal overturned the decision in June 2025, ruling that individuals who claimed ownership interests in some of the properties were denied fair hearing. It consequently directed the Federal High Court to conduct fresh proceedings and hear all interested parties.
The EFCC challenged that decision before the Supreme Court, seeking the restoration of the original forfeiture order.
In its judgment delivered on Friday, the Supreme Court agreed with the anti-graft agency, overturned the Court of Appeal’s ruling, and reinstated the Federal High Court’s decision, effectively transferring ownership of the listed assets to the Federal Government.
