Former CBN Governor Godwin Emefiele has lost his legal battle over seven luxury properties, as the Supreme Court on Friday reinstated their final forfeiture to the Federal Government.
A five-member panel of the apex court, led by Justice Ibrahim Saulawa, unanimously ruled in favour of the Economic and Financial Crimes Commission (EFCC).
The decision completely sets aside an earlier Court of Appeal judgment that had ordered a retrial.
Justice Mohammed Idris, who read the judgment, upheld the November 1, 2024 ruling by the Federal High Court in Lagos.
The high court had ordered the permanent forfeiture of the assets after concluding they were likely acquired through illegal means.
This final ruling brings a definitive end to Emefiele’s challenges against the EFCC’s forfeiture order.
The forfeited assets include two fully detached duplexes on Hakeem Odumosu Street, Lekki Phase 1; an undeveloped parcel of land on Oyinkan Abayomi Drive, Ikoyi; a bungalow and a four-bedroom duplex in Ikoyi; 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.
Persecondnews recalls that the Federal High Court had also ordered the forfeiture of $2.045 million in cash and share certificates belonging to Queensdorf Global Fund Limited Trust, which were not contested by the defendant.
Justice Deinde Dipeolu of the Federal High Court had granted the EFCC’s application for final forfeiture in November 2024 after holding that the Commission had sufficiently established that the assets were proceeds of unlawful activities.
However, in June 2025, the Court of Appeal overturned the decision, ruling that some parties claiming ownership of the assets were denied fair hearing and directing that the matter be returned to the trial court for fresh proceedings.
The EFCC took the case to the Supreme Court after rejecting the appellate court’s decision, maintaining that the high court’s original forfeiture ruling was justified and should stand.
Siding with the anti-graft agency, the apex court threw out the Court of Appeal’s judgment.
By reinstating the final forfeiture order, the Supreme Court has officially transferred ownership of the luxury properties and cash to the Federal Government.
The appeal was argued for the EFCC by a legal team led by former Attorney-General of the Federation, Kanu Agabi (SAN), alongside the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), while Emefiele was represented by Senior Advocates of Nigeria – Olalekan Ojo and Labi Lawal.
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