Supreme Court Confirms Final Forfeiture of Godwin Emefiele’s Mansions, $2 Million and Other Assets to Federal Government
ABUJA – The Supreme Court has delivered a landmark judgment affirming the permanent forfeiture of multiple high-value properties, over $2 million in cash, and company share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in favour of the Federal Government.
The apex court’s decision marks another major victory for the Economic and Financial Crimes Commission (EFCC) in its ongoing campaign to recover assets allegedly acquired through unlawful means by former public officials.
In a unanimous ruling delivered on Friday by a five-member panel headed by Justice Ibrahim Saulawa, the Supreme Court overturned the earlier judgment of the Court of Appeal, Lagos Division, which had ordered a fresh hearing of the forfeiture case.
Instead, the court restored the judgment of the Federal High Court in Lagos, holding that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities and were therefore liable to permanent forfeiture.
The judgment was read by Justice Mohammed Idris, who upheld the November 1, 2024 ruling of the Federal High Court presided over by Justice Deinde Dipeolu in Suit No. FHC/L/MISC/500/24.
Appeal Court Judgment Overturned
Following the Federal High Court’s decision in 2024, Emefiele challenged the ruling before the Court of Appeal, arguing that certain individuals claiming ownership interests in some of the assets were denied fair hearing.
The appellate court accepted that argument and subsequently set aside the forfeiture order, directing that the matter be reheard.
Not satisfied with the decision, the EFCC approached the Supreme Court, insisting that the Federal High Court had acted within the law and urging the apex court to reinstate the forfeiture order.
After reviewing the arguments, the Supreme Court agreed with the anti-graft agency and restored the trial court’s judgment, effectively transferring ownership of the disputed assets to the Federal Government.
Properties Finally Forfeited
Among the assets permanently forfeited are several luxury properties located in some of Nigeria’s most expensive neighbourhoods.
The assets include a fully detached duplex consisting of identical structures located on Hakeem Odumosu Street in Lekki Phase 1, Lagos.
Also forfeited is a large undeveloped parcel of land measuring about 1,919.592 square metres situated on Oyinkan Abayomi Drive, formerly known as Queens Drive, in Ikoyi, Lagos.
Other properties affected by the judgment include a bungalow on Oyinkan Abayomi Drive in Ikoyi, a four-bedroom duplex on Probyn Road, Ikoyi, and a large residential duplex situated on Bank Road, Ikoyi.
The court also upheld the forfeiture of an industrial complex under construction spread across 22 plots of land in Agbor, Delta State, as well as eight units of luxury apartments built on a sizeable plot along Adekunle Lawal Road in Ikoyi.
Beyond the landed properties, the Supreme Court equally affirmed the forfeiture of $2.045 million and share certificates belonging to Queensdorf Global Fund Limited.
EFCC Relied on Anti-Fraud Law
The EFCC had filed the forfeiture proceedings under the provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, alongside relevant sections of the Nigerian Constitution.
According to the commission, investigations carried out by its operatives established reasonable grounds to believe that the assets were purchased using proceeds of unlawful activities.
An affidavit filed before the court by EFCC investigator David Jayeoba stated that extensive investigations linked the assets to suspected illicit funds.
The anti-graft agency therefore urged the Federal High Court to order the permanent forfeiture of the properties to the Federal Government.
Justice Dipeolu agreed with the EFCC’s submissions in November 2024, holding that the commission had successfully met the legal requirements for civil forfeiture proceedings.
Long-Running Legal Battle
The latest Supreme Court ruling represents another significant chapter in the legal troubles facing the former CBN governor since his removal from office in 2023.
Emefiele remains the subject of several criminal cases pending before courts in Abuja and Lagos, where he faces allegations bordering on procurement fraud, abuse of office, and other financial crimes.
He has consistently denied all allegations brought against him.
In addition to the criminal proceedings, the former apex bank chief has also faced numerous interim and final forfeiture applications filed by the EFCC as part of its nationwide asset recovery programme.
Friday’s judgment effectively closes one of the most high-profile civil forfeiture cases involving the former CBN governor and reinforces the Federal Government’s legal ownership of the assets.
The ruling is expected to strengthen the EFCC’s anti-corruption drive while signalling the judiciary’s continued support for lawful asset recovery proceedings where sufficient evidence establishes that properties were acquired through proceeds of unlawful activities.
