Supreme Court affirms final forfeiture of mansions, land, $2m, share certificates linked to Emefiele
The Nigerian Supreme Court has upheld the permanent forfeiture of assets, including mansions and over $2 million, linked to former Central Bank Governor Godwin Emefiele. The ruling overturns a previous appellate court decision and confirms the assets were acquired through unlawful activities.
Why it matters
This decision marks a significant legal victory for the Nigerian government's anti-corruption efforts and sets a precedent for the recovery of state assets.
The Supreme Court, on Friday, affirmed the permanent forfeiture of seven landed properties alongside over $2 million and share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the federal government.
In a unanimous decision delivered by a five-member panel, the Supreme Court set aside the judgement of the Court of Appeal in Lagos which lifted the forfeiture order on the assets.
The Federal High Court, Lagos, had ordered the final forfeiture of the assets because they were reasonably suspected to have been acquired with proceeds of unlawful activities.
Following the final forfeiture order made by the Federal High Court, Mr Emefiele challenged the decision before the Court of Appeal, which reversed the judgement of the trial court.
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