Supreme Court Confirms Forfeiture of Emefiele's Assets

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

The Federal High Court in Lagos had initially ordered the final forfeiture of Emefiele's assets on November 1, 2024, based on an application filed by the Economic and Financial Crimes Commission (EFCC), represented by Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN). The EFCC's application cited the assets as being acquired through unlawful activities, specifically under the Advance Fee Fraud and Other Related Offences Act of 2006.

The properties involved include various duplexes and land parcels in Lagos and Delta State, totaling significant value, alongside 2,045,000 shares in Queensdorf Global Fund Limited.