SUPREME COURT REVERSES A’COURT RULING, REINSTATES FINAL FORFEITURE OF EMEFIELE’S PROPERTIES
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By ‘Sefiu Ajape
The Supreme Court has reinstated the final forfeiture of seven high-value properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, overturning a Court of Appeal judgment that nullified the order and directed a retrial.
In a unanimous judgment delivered on Friday, a five-member panel of the apex court, led by Justice Ibrahim Saulawa, allowed the appeal and set aside the decision of the Court of Appeal, Lagos Division, according to reports.
The appellate court had earlier nullified the final forfeiture order granted by the Federal High Court in Lagos and ordered that the matter be heard afresh.
However, the Supreme Court restored the trial court’s judgment, effectively returning the seven properties to the Federal Government through final forfeiture.
The ruling also brings to an end Emefiele’s legal challenge against the forfeiture order issued by the Federal High Court.
Lagos court rulings
Justice Dehinde Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, had, on November 1, 2024, ordered the final forfeiture of $2.045 million, seven landed properties and two share certificates of Queensdorf Global Fund Limited Trust linked to the former CBN governor.
Justice Dipeolu granted the order following a motion on notice filed and argued by a team of lawyers led by Rotimi Oyedepo (SAN) on behalf of the Economic and Financial Crimes Commission (EFCC).
The forfeited properties include two fully detached duplexes of identical structures at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped plot measuring 1,919.592 square metres with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65A Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; and a four-bedroom duplex at 12A Probyn Road, Ikoyi, Lagos.
Others include an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of an undetached apartment on a plot measuring 2,457.60 square metres at No. 8A Adekunle Lawal Road, Ikoyi; and a full duplex with all its amenities on a plot measuring 2,217.87 square metres at 2A Bank Road, Ikoyi, Lagos.
In March 2025, Justice Ayokunle Faji of the Federal High Court in Lagos also ordered the permanent forfeiture of $1.4 million linked to alleged fraud involving Emefiele.
Appeal Court sets aside ruling
In June 2025, the Court of Appeal in Lagos set aside the forfeiture order, ruling that interested parties claiming ownership of some of the assets were not given a fair hearing.
The appellate court consequently ordered that the matter be returned to the Federal High Court for fresh proceedings and directed that evidence be taken from all parties.
Dissatisfied with the decision, the EFCC appealed to the Supreme Court, urging it to restore the trial court’s judgment.
Supreme Court verdict
In its judgment delivered on Friday, the Supreme Court upheld the EFCC’s arguments, set aside the Court of Appeal’s decision and reinstated the final forfeiture order issued by the Federal High Court, thereby vesting the listed properties in the Federal Government.
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