Supreme Court Orders Final Forfeiture of Emefiele’s Mansions, $2m and Shares to FG
By Victor Idajili
The Supreme Court on Friday ordered the final forfeiture of seven properties, $2.045 million, and share certificates linked to former CBN Governor, Godwin Emefiele, to the Federal Government.
In a unanimous judgment by a five-member panel led by Justice Ibrahim Saulawa, the apex court set aside the Court of Appeal decision and restored the Federal High Court ruling in Lagos.
Justice Mohammed Idris delivered the lead judgment on behalf of the panel. The court upheld the forfeiture order earlier made by Justice Deinde Dipeolu of the Federal High Court on November 1, 2024 in Suit No. FHC/L/MISC/500/24.
After the Federal High Court granted the forfeiture, Emefiele appealed to the Court of Appeal, Lagos Division. The appellate court overturned the order, ruling that some interested parties claiming ownership were denied a fair hearing and ordered a fresh hearing.
Dissatisfied, the EFCC took the case to the Supreme Court, asking that the Federal High Court’s decision be restored. The apex court agreed with the anti-graft agency and reinstated the forfeiture, effectively transferring the assets to the Federal Government.
The assets include:
A fully detached duplex at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos . An undeveloped 1,919.592 sqm plot on Oyinkan Abayomi Drive, Ikoyi, covered by Survey Plan No. DS/LS/340 .A bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi,afour-bedroom duplex at 12A Probyn Road, Ikoyi. An industrial complex under construction on 22 plots in Agbor, Delta State .Eight units of undetached apartments on a 2,457.60 sqm plot at No. 8A Adekunle Lawal Road, Ikoyi, a full duplex on a 2,217.87 sqm plot at 2A Bank Road, Ikoyi.
The court also affirmed the forfeiture of $2,045,000 and share certificates belonging to Queensdorf Global Fund Limited.
The EFCC obtained the order through an application filed by Director of Public Prosecution, Rotimi Oyedepo, SAN, under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and Section 44(2)(b) of the 1999 Constitution.
The application was an action in rem seeking final forfeiture of assets reasonably suspected to be proceeds of unlawful activities. It was supported by an affidavit from EFCC investigator David Jayeoba, who said investigations linked the assets to unlawful proceeds.
Justice Dipeolu granted the application after holding that the EFCC met the legal threshold for civil forfeiture.
The forfeiture is one of several proceedings against Emefiele since his removal as CBN governor in 2023.
He is currently facing multiple criminal charges in Abuja and Lagos over alleged procurement fraud, abuse of office and other financial crimes allegations he has denied.
