Supreme Court Restores Final Forfeiture of Emefiele’s Seven Properties

• The Supreme Court has overturned an earlier Court of Appeal ruling and reinstated the final forfeiture of seven high-value properties linked to former CBN Governor Godwin Emefiele, ending his legal challenge over the assets.

The Supreme Court has reinstated the final forfeiture of seven high-value properties linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, overturning an earlier judgment of the Court of Appeal that had ordered a fresh hearing of the case.

In a unanimous judgment delivered on Friday, a five-member panel of the apex court, led by Justice Ibrahim Saulawa, allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC) and set aside the Court of Appeal’s decision.

The ruling effectively restores the Federal High Court’s order, transferring ownership of the seven properties to the Federal Government through a final forfeiture.

The decision also brings to an end Emefiele’s legal challenge against the forfeiture order.

The case dates back to November 1, 2024, when Justice Dehinde Dipeolu of the Federal High Court in Lagos ordered the final forfeiture of $2.045 million, seven landed properties and two share certificates belonging to Queensdorf Global Fund Limited Trust, all linked to the former CBN governor.

The order followed a motion filed by the EFCC and argued by a team of lawyers led by Senior Advocate of Nigeria (SAN), Rotimi Oyedepo.

Among the forfeited assets are two fully detached duplexes on Hakeem Odumosu Street in Lekki Phase 1, several luxury properties in Ikoyi, Lagos, an industrial complex under construction on 22 plots of land in Agbor, Delta State, and other high-value real estate.

In March 2025, the Federal High Court also ordered the permanent forfeiture of $1.4 million linked to alleged fraudulent activities involving Emefiele.

However, the Court of Appeal, in June 2025, overturned the forfeiture of the seven properties, ruling that individuals claiming ownership of some of the assets were denied a fair hearing. The appellate court subsequently directed that the matter be returned to the Federal High Court for fresh proceedings.

Dissatisfied with the ruling, the EFCC approached the Supreme Court, asking the apex court to restore the original forfeiture order.

Delivering its judgment on Friday, the Supreme Court upheld the anti-graft agency’s appeal, nullified the Court of Appeal’s decision and reaffirmed the final forfeiture ordered by the Federal High Court.

With the ruling, the seven properties are now permanently vested in the Federal Government, marking the conclusion of one of the high-profile asset forfeiture cases involving the former CBN governor.