BREAKING NEWS: Supreme Court Orders Final Forfeiture of Emefiele’s Assets, Hands Properties and $2.045 Million to FG

The Supreme Court of Nigeria has upheld the final forfeiture of several high-value properties and $2.045 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.

In a landmark judgment delivered on Friday, the apex court overturned an earlier ruling of the Court of Appeal, which had nullified the forfeiture order and directed that the matter be reheard by the Federal High Court.

The unanimous judgment, delivered by Justice Mohammed Idris on behalf of a panel led by Justice Ibrahim Mohammed Musa Saulawa, affirmed the 2024 decision of Justice Dehinde Dipeolu of the Federal High Court in Lagos.

According to the Supreme Court, the Court of Appeal erred in setting aside the forfeiture order after the Economic and Financial Crimes Commission (EFCC) had successfully established its case regarding the assets in question.

The EFCC had earlier secured a final forfeiture order from the Federal High Court after presenting evidence linking the properties and funds to Emefiele. However, dissatisfied with the ruling, the former CBN governor appealed through his legal team led by Senior Advocate of Nigeria (SAN), Olalekan Ojo.

In 2025, the Court of Appeal ruled in Emefiele’s favour, quashing the forfeiture order and directing that the case start afresh before the lower court. The EFCC subsequently challenged the decision at the Supreme Court.

Representing the EFCC at the apex court were former Attorney-General of the Federation, Chief Kanu Agabi (SAN), Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), and Abba Mohammed (SAN).

After reviewing the matter, the Supreme Court allowed the EFCC’s appeal, nullified the judgment of the Court of Appeal, and restored the Federal High Court’s final forfeiture order in its entirety.

Emefiele was represented by Olalekan Ojo (SAN), Labi Lawal (SAN), and Olawale Fapohunda.

The forfeited assets include several prime properties located in Lagos and Delta States. Among them are two fully detached duplexes on Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi; a bungalow on the same road; and a four-bedroom duplex on Probyn Road, Ikoyi.

Other properties affected by the order include an industrial complex under construction on 22 plots of land in Agbor, Delta State, eight apartment units on Adekunle Lawal Road, Ikoyi, and another duplex on Bank Road, Ikoyi.

The Supreme Court also upheld the forfeiture of $2.045 million in cash and share certificates belonging to Queensdorf Global Fund Limited.

With the latest ruling, all the assets covered by the forfeiture order are to be transferred to the Federal Government, bringing a significant chapter in the legal battle involving the former CBN governor to a close.