Supreme Court Affirms Final Forfeiture of Emefiele’s Properties, $2.045m to FG

Supreme Court Affirms Final Forfeiture of Emefiele’s Properties, $2.045m to FG

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

The apex court delivered the unanimous judgment on Friday, July 17, 2026, in a decision by a five-member panel led by Justice Ibrahim Mohammed Saulawa.

The Supreme Court set aside the judgment of the Court of Appeal, which had earlier overturned the final forfeiture order made by the Federal High Court in Lagos.

The apex court consequently restored and affirmed the decision of the Federal High Court, which had ordered the final forfeiture of the assets on the grounds that they were reasonably suspected to have been acquired with proceeds of unlawful activities.

The forfeited properties include a fully detached duplex of identical structures at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres at Oyinkan Abayomi Drive, formerly Queens Drive, Ikoyi, Lagos; and a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi.

Others are a four-bedroom duplex at 12A Probyn Road, Ikoyi; an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of undetached apartments at No. 8A Adekunle Lawal Road, Ikoyi; and a full duplex at 2A Bank Road, Ikoyi, Lagos.

The court also ordered the final forfeiture of $2,045,000 and share certificates belonging to Queensdorf Global Fund Limited to the Federal Government.

The original final forfeiture order was granted on November 1, 2024, by Justice D.I. Dipeolu of the Federal High Court sitting in Lagos, following an application filed by the Economic and Financial Crimes Commission (EFCC).

The EFCC had brought the application as an action in rem, seeking the final forfeiture of assets allegedly reasonably suspected to have been acquired with proceeds of unlawful activities.

The application was supported by an affidavit deposed to by an EFCC investigating officer, David Jayeoba, who told the court that investigations conducted by the Commission raised reasonable suspicion that the assets were acquired through unlawful proceeds.

Emefiele subsequently challenged the Federal High Court’s decision at the Court of Appeal, which reversed the forfeiture order.

Dissatisfied with the appellate court’s decision, the EFCC appealed to the Supreme Court, which has now unanimously restored and affirmed the judgment of the Federal High Court.

The Supreme Court’s decision conclusively upholds the final forfeiture of the seven properties, $2.045 million and the share certificates to the Federal Government of Nigeria.

Supreme Court Affirms Final Forfeiture of Emefiele’s Properties, $2.045m to FG