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The Supreme Court has reinstated the final forfeiture of seven high-value properties linked to former Governor of the Central Bank of Nigeria, Godwin Emefiele, overturning a Court of Appeal judgment that had nullified the order and directed a retrial.

In a unanimous decision delivered on Friday, a five-member panel of the apex court led by Justice Ibrahim Saulawa allowed the appeal and set aside the judgment of the Court of Appeal, Lagos Division, Channels TV reported.

The appellate court had earlier nullified the final forfeiture order granted by the Federal High Court in Lagos and ordered that the case be heard afresh. However, the Supreme Court restored the trial court’s decision, effectively returning the seven properties to the Federal Government through final forfeiture.

The ruling also brings to a close Emefiele’s legal challenge against the forfeiture order issued by the Federal High Court.

Justice Dehinde Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, on November 1, 2024, ordered the final forfeiture of the sum of $2.045 million, seven landed properties, and the two share certificates of Queensdorf Global Fund Limited Trust linked to the former Governor of the Central Bank of Nigeria, Godwin Emefiele.

The forfeited properties include: two fully detached duplexes of identical structures at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped plot measuring 1919.592 sqm with Survey Plan No. DS/LS/340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65A, Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; and a four-bedroom duplex at 12 A, Probyn Road, Ikoyi, Lagos.

Others include an industrial complex under construction on 22 plots of land in Agbor, Delta State; 8 units of an undetached apartment on a plot measuring 2457.60 sqm at No. 8A, Adekunle Lawal Road, Ikoyi; and a full duplex together with all its amenities on a plot of land measuring 2217.87 sqm at 2a Bank Road, Ikoyi, Lagos.

The Economic and Financial Crimes Commission had earlier appealed to the Supreme Court, urging it to restore the trial court’s judgment.

In March 2025, Justice Ayokunle Faji of the Federal High Court in Lagos ordered the permanent forfeiture of $1.4m linked to fraud involving the former Governor of the Central Bank of Nigeria, Godwin Emefiele.

The Court of Appeal in Lagos set aside that decision in June 2025, ruling that interested parties who claimed ownership of some of the assets were not afforded a fair hearing.

The Supreme Court has now upheld the Commission’s arguments, set aside the Court of Appeal’s decision and reinstated the final forfeiture order issued by the Federal High Court, thereby vesting the listed properties in the Federal Government.

Godwin Emefiele served as the Governor of the Central Bank of Nigeria from 2014 to 2023. He was appointed by President Muhammadu Buhari and played a crucial role in the country’s economic policies during his tenure.

The EFCC has been at the forefront of the investigation and prosecution of financial crimes in Nigeria. The Commission has been instrumental in recovering billions of naira in the past few years.

The Supreme Court’s decision has sent shockwaves across the country, with many Nigerians praising the court for upholding the rule of law and ensuring that those who have committed financial crimes are held accountable.

As of now, the EFCC has not made any statement on the next line of action regarding the forfeiture of Emefiele's properties.

It remains to be seen what the implications of this ruling will be for Emefiele and other individuals who have been implicated in financial crimes in Nigeria.

The Economic and Financial Crimes Commission has been instrumental in recovering billions of naira in the past few years. The Commission has also been at the forefront of the investigation and prosecution of financial crimes in Nigeria.

Key Facts

  • Seven high-value properties linked to Godwin Emefiele have been forfeited.
  • The properties include two fully detached duplexes, an undeveloped plot, a bungalow, and a four-bedroom duplex.
  • The Supreme Court has reinstated the final forfeiture order issued by the Federal High Court.
  • The Economic and Financial Crimes Commission had appealed to the Supreme Court to restore the trial court’s judgment.
  • The Court of Appeal in Lagos set aside the decision of the Federal High Court in June 2025.