The Supreme Court has upheld the final forfeiture of properties and $2.045 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government
In a unanimous judgment delivered on Friday, the apex court overturned the June 2025 decision of the Court of Appeal in Lagos, which had nullified the forfeiture order and directed that the case be retried.
The Supreme Court ruled that the appellate court was wrong to reverse the judgment of the Federal High Court, which had ordered the permanent forfeiture of the assets.
Justice Deinde Dipeolu of the Federal High Court in Lagos had, on November 1, 2024, ordered the forfeiture of $2.045 million, seven landed properties and two share certificates of Queensdorf Global Fund Limited Trust linked to Emefiele, after holding that the assets were reasonably suspected to have been acquired through proceeds of unlawful activities.
The forfeited assets include two detached duplexes on Hakeem Odumosu Street in Lekki Phase 1, an undeveloped parcel of land and a bungalow on Oyinkan Abayomi Drive in Ikoyi, a four-bedroom duplex on Probyn Road in Ikoyi, an industrial complex under construction on 22 plots in Agbor, Delta State, eight apartment units on Adekunle Lawal Road in Ikoyi, and another duplex on Bank Road, Ikoyi.
The Court of Appeal had, in June 2025, ruled that Emefiele’s legitimate earnings could have funded the acquisition of the properties and ordered the matter returned to the Federal High Court for a fresh hearing. However, it upheld the forfeiture of the $2.045 million because it was not challenged.
With Friday’s judgment, the Supreme Court restored the original forfeiture order, bringing the legal battle over the assets to an end.
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