BREAKING: SUPREME COURT UPHOLDS FINAL FORFEITURE OF EMEFIELE-LINKED PROPERTIES, $2.045 MILLION

SUPREME COURT UPHOLDS FINAL FORFEITURE OF EMEFIELE-LINKED PROPERTIES, $2.045 MILLION


The Supreme Court has affirmed the permanent forfeiture of properties and $2.045 million linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.

In a unanimous judgment delivered on Friday, the apex court overturned an earlier ruling of the Court of Appeal in Lagos, which had set aside the forfeiture order and directed that the matter be returned to the Federal High Court for a fresh hearing.

The Supreme Court held that the Court of Appeal erred in nullifying the Federal High Court's decision, which had ordered the permanent forfeiture of the assets after finding reasonable grounds to suspect they were acquired through proceeds of unlawful activities.

The original forfeiture order was issued on November 1, 2024, by Justice Deinde Dipeolu of the Federal High Court in Lagos. It covered $2.045 million, seven high-value properties located in Lagos and Delta states, as well as two share certificates belonging to Queensdorf Global Fund Limited Trust.

The affected assets include luxury duplexes and residential buildings in Lekki and Ikoyi, Lagos, alongside an industrial complex under construction on 22 plots of land in Agbor, Delta State.

The Court of Appeal had, in June 2025, overturned the forfeiture of the properties and ordered a retrial, with the majority ruling suggesting that Emefiele's legitimate earnings could have been sufficient to acquire the assets. However, the appellate court upheld the forfeiture of the $2.045 million.

With Friday's judgment, the Supreme Court restored the Federal High Court's original decision, confirming the final forfeiture of the properties, funds, and related assets linked to the former CBN governor.

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