By Ahmed Yusuf
National News – The Supreme Court has upheld the final forfeiture of seven landed properties, $2.045 million and share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered on Friday, a five-member panel of the apex court led by Justice Ibrahim Saulawa set aside the earlier decision of the Court of Appeal and restored the judgment of the Federal High Court in Lagos, which ruled that the assets were reasonably suspected to have been acquired through proceeds of unlawful activities.
The lead judgment, read by Justice Mohammed Idris, affirmed the forfeiture order issued by Justice Deinde Dipeolu of the Federal High Court on November 1, 2024.
Emefiele had appealed the Federal High Court’s decision after it ordered the permanent forfeiture of the assets. The Court of Appeal later overturned the ruling, holding that some individuals claiming ownership of the properties were denied a fair hearing and directing that the matter be reheard.
However, the Economic and Financial Crimes Commission (EFCC) challenged that decision at the Supreme Court, arguing that the Federal High Court had properly exercised its jurisdiction.
The apex court agreed with the anti-graft agency, reinstating the forfeiture order and transferring ownership of the assets to the Federal Government.
Among the forfeited properties are a detached duplex on Hakeem Odumosu Street in Lekki Phase 1, Lagos; 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.
The court also affirmed the forfeiture of $2.045 million and share certificates belonging to Queensdorf Global Fund Limited.
The forfeiture proceedings followed an application filed by the EFCC under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and relevant provisions of the 1999 Constitution.
The commission, through an affidavit by investigating officer David Jayeoba, maintained that its investigation showed the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.
Justice Dipeolu had granted the final forfeiture after holding that the EFCC met the legal requirements for civil asset forfeiture.
The case is one of several legal proceedings involving the former CBN governor since his removal from office in 2023.
Emefiele is currently facing multiple criminal charges in Abuja and Lagos over alleged procurement fraud, abuse of office and other financial offences. He has consistently denied all allegations.
