By Francis Wilfred
The Supreme Court has affirmed the final forfeiture of seven landed properties, $2.045 million and share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Mohammed Saulawa, the apex court set aside the decision of the Court of Appeal and restored the judgment of the Federal High Court, Lagos, which had ordered the forfeiture of the assets.The court held that the properties and funds were reasonably suspected to have been acquired through proceeds of unlawful activities and were therefore liable to forfeiture under the law.
Emefiele had challenged the forfeiture order granted by the Federal High Court. The Court of Appeal subsequently overturned the trial court’s decision. However, dissatisfied with the appellate court’s ruling, the Economic and Financial Crimes Commission (EFCC) appealed to the Supreme Court, which ultimately ruled in the Commission’s favour.
The assets forfeited include a fully detached duplex at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land on Oyinkan Abayomi Drive, Ikoyi; a bungalow at No. 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 units of apartments on Adekunle Lawal Road, Ikoyi; and a duplex at 2A Bank Road, Ikoyi.The apex court also upheld the forfeiture of $2,045,000 and share certificates belonging to Queensdorf Global Fund Limited.
The original forfeiture order was granted on November 1, 2024, by Justice D.I. Dipeolu of the Federal High Court, Lagos, following an application filed by the EFCC under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. The Supreme Court’s ruling conclusively settles the matter, confirming that the assets will remain forfeited to the Federal Government of Nigeria.
