Supreme Court Upholds Forfeiture of Emefiele's Assets

The Supreme Court of Nigeria upheld the final forfeiture of properties and $2.045 million linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN). This unanimous judgment was delivered on a Friday, overturning an earlier decision by the Court of Appeal in Lagos that had set aside the forfeiture order and directed a retrial at the Federal High Court.

The Supreme Court reinstated the original forfeiture order from November 1, 2024, issued by Justice Deinde Dipeolu of the Federal High Court in Lagos. The trial court had ruled that the assets were acquired through unlawful activities.

Among the forfeited properties are two fully detached duplexes located at 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos, and several other high-value assets, including a bungalow on Oyinkan Abayomi Drive, Ikoyi, and an industrial complex in Agbor, Delta State. The Court of Appeal had previously ruled in favor of Emefiele regarding the legitimacy of his earnings, but the Supreme Court's ruling fully restored the forfeiture order.