Breaking: Supreme Court Gives Final Verdict on Emefiele's Luxury Properties
- The Supreme Court overturned a Court of Appeal judgment that had nullified the final forfeiture order on properties linked to former CBN Governor Godwin Emefiele
- A five-member panel led by Justice Ibrahim Saulawa delivered a unanimous decision that revived the Federal High Court's original ruling
- The EFCC had appealed after the appellate court ordered a retrial, arguing that the trial court's forfeiture order should stand
The Supreme Court has upheld the ruling ordering the final forfeiture of seven highly valued properties linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN). The apex court overturned the earlier ruling of the Court of Appeal, which ordered the retrial of the case.
Justice Ibrahim Saulawa-led five-member panel of the Supreme Court unanimously allowed the appeal and overturned the decision of the appellate court in Lagos Division, which earlier nullified the forfeiture order issued by the Federal High Court in Lagos.
Source: Twitter
Channels TV reported that the decision of the Supreme Court successfully restored the order of final forfeiture, bringing to an end the legal tussle initiated by Emefiele against the order of the lower court in the suit filed by the Economic and Financial Crimes Commission (EFCC).
Federal High Court's original ruling
The properties were first ordered forfeited by Justice Dehinde Dipeolu of the Federal High Court in Ikoyi, Lagos, on November 1, 2024. That ruling covered $2.045 million in cash, seven landed properties, and two share certificates of Queensdorf Global Fund Limited Trust, all traced to Emefiele.
The forfeited assets include two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped plot measuring 1,919.592 sqm at Oyinkan Abayomi Drive, Ikoyi; a bungalow at No. 65A on the same road; and a four-bedroom duplex at 12A, Probyn Road, Ikoyi, Lagos. Justice Dipeolu granted the order following a motion argued by a legal team led by Rotimi Oyedepo (SAN) on behalf of the EFCC.
In March 2025, another judge, Justice Ayokunle Faji, separately ordered the permanent forfeiture of $1.4 million also linked to Emefiele in a distinct fraud-related matter at the same court.
Court of Appeal nullifies the order
In June 2025, the Court of Appeal in Lagos reversed the forfeiture, ruling that third parties who claimed ownership of some of the seized assets were denied a fair hearing before the forfeiture was finalised. The appellate court directed the matter back to the Federal High Court so that all interested parties could present evidence.
The EFCC challenged that decision at the Supreme Court, contending that the trial court's order was properly made and should not have been disturbed.
Supreme Court restores forfeiture order
In its Friday ruling, the Supreme Court agreed with the EFCC's position, set aside the Court of Appeal's decision, and restored the Federal High Court's forfeiture order in its entirety. The judgment also brings to a close Emefiele's legal challenge against the forfeiture proceedings.
Source: Twitter
Emefiele Leaves Kuje Prison As Fresh Allegations Emerge
Legit.ng earlier reported that the embattled former CBN governor Godwin Emefiele has met his N300 million bail condition and left the Kuje prison
Justice Hamza Mu’auz of the Federal High Court in Maitama granted the bail of N300 million and two sureties with landed properties in Maitama to the ex-CBN governor
On Saturday morning, his release from Kuje prison was confirmed by Adamu Duza, the spokesperson of the Kuje Correctional Centre, Abuja
Source: Legit.ng
