The Supreme Court has upheld the final forfeiture of seven luxury properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, overturning a Court of Appeal judgment that had ordered a fresh hearing of the case.

The apex court also reaffirmed the forfeiture of assets, including $2.045 million in cash, to the Federal Government.

In a unanimous judgment delivered on Friday, a five-member panel of the Supreme Court, led by Justice Ibrahim Saulawa, allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC) and set aside the decision of the Court of Appeal, Lagos Division, which had nullified the forfeiture order issued by the Federal High Court in Lagos.

The judgment was read by Justice Mohammed Idris on behalf of the panel.

The Supreme Court affirmed the November 1, 2024 judgment of Justice Deinde Dipeolu of the Federal High Court, who ruled that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities and ordered their final forfeiture to the Federal Government.

The EFCC's appeal was argued by a legal team led by former Attorney General of the Federation, Kanu Agabi (SAN), while the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), also appeared for the anti-graft agency. Godwin Emefiele was represented by Senior Advocates of Nigeria, Olalekan Ojo and Labi Lawal.

The Supreme Court's verdict effectively brings to an end Emefiele's legal challenge against the forfeiture order and confirms the Federal Government's ownership of the assets.

The forfeited properties include two fully detached duplexes at 17B 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 at 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 apartment units on Adekunle Lawal Road, Ikoyi; and a duplex situated on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.

Justice Dipeolu had also ordered the forfeiture of $2.045 million in cash and share certificates belonging to Queensdorf Global Fund Limited Trust, a decision that was not challenged by the defendant.

The case originated in November 2024 when the Federal High Court granted the EFCC's application for the final forfeiture of the assets after finding sufficient evidence that they were proceeds of unlawful activities.

However, in June 2025, the Court of Appeal overturned the decision, holding that individuals claiming ownership of some of the properties were denied a fair hearing. It subsequently ordered the matter to be returned to the Federal High Court for fresh proceedings.

Unhappy with the ruling, the EFCC approached the Supreme Court, urging it to restore the judgment of the trial court.

In its final decision, the apex court agreed with the Commission's submissions, nullified the Court of Appeal's judgment and reinstated the Federal High Court's forfeiture order, thereby permanently vesting the listed properties and other forfeited assets in the Federal Government.

Supreme Court Restores Final Forfeiture of Emefiele’s Luxury Properties

The Supreme Court has upheld the final forfeiture of seven luxury properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, overturning a Court of Appeal judgment that had ordered a fresh hearing of the case.

The apex court also reaffirmed the forfeiture of assets, including $2.045 million in cash, to the Federal Government.

In a unanimous judgment delivered on Friday, a five-member panel of the Supreme Court, led by Justice Ibrahim Saulawa, allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC) and set aside the decision of the Court of Appeal, Lagos Division, which had nullified the forfeiture order issued by the Federal High Court in Lagos.

The judgment was read by Justice Mohammed Idris on behalf of the panel.

The Supreme Court affirmed the November 1, 2024 judgment of Justice Deinde Dipeolu of the Federal High Court, who ruled that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities and ordered their final forfeiture to the Federal Government.

The EFCC's appeal was argued by a legal team led by former Attorney General of the Federation, Kanu Agabi (SAN), while the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), also appeared for the anti-graft agency. Godwin Emefiele was represented by Senior Advocates of Nigeria, Olalekan Ojo and Labi Lawal.

The Supreme Court's verdict effectively brings to an end Emefiele's legal challenge against the forfeiture order and confirms the Federal Government's ownership of the assets.

The forfeited properties include two fully detached duplexes at 17B 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 at 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 apartment units on Adekunle Lawal Road, Ikoyi; and a duplex situated on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.

Justice Dipeolu had also ordered the forfeiture of $2.045 million in cash and share certificates belonging to Queensdorf Global Fund Limited Trust, a decision that was not challenged by the defendant.

The case originated in November 2024 when the Federal High Court granted the EFCC's application for the final forfeiture of the assets after finding sufficient evidence that they were proceeds of unlawful activities.

However, in June 2025, the Court of Appeal overturned the decision, holding that individuals claiming ownership of some of the properties were denied a fair hearing. It subsequently ordered the matter to be returned to the Federal High Court for fresh proceedings.

Unhappy with the ruling, the EFCC approached the Supreme Court, urging it to restore the judgment of the trial court.

In its final decision, the apex court agreed with the Commission's submissions, nullified the Court of Appeal's judgment and reinstated the Federal High Court's forfeiture order, thereby permanently vesting the listed properties and other forfeited assets in the Federal Government.