Supreme Court Affirms Emefiele's $2M Asset Forfeiture

The Supreme Court of Nigeria has affirmed the final forfeiture of several properties and $2 million belonging to Godwin Emefiele, the former Governor of the Central Bank of Nigeria. The ruling, delivered by a five-member panel led by Justice Ibrahim Saulawa, set aside a previous Court of Appeal judgment that had restored an earlier decision by the Federal High Court in Lagos.

The Federal High Court, in a ruling on November 1, 2024, had ordered the forfeiture of Emefiele's assets on the grounds that they were suspected to have been acquired through unlawful activities. The Economic and Financial Crimes Commission (EFCC) had filed the application for forfeiture, supported by an affidavit detailing investigations that indicated the assets were acquired unlawfully.

The forfeited assets include several properties in Lagos and Delta State, as well as share certificates belonging to Queensdorf Global Fund Limited. Emefiele faces multiple criminal charges related to financial crimes.