Supreme court affirms final forfeiture of properties, $2m linked to Emefiele
The Supreme Court of Nigeria has affirmed the final forfeiture of assets and $2.045 million linked to former CBN governor Godwin Emefiele. This ruling overturns a previous Court of Appeal decision that had ordered a retrial, effectively securing the properties for the federal government.
Why it matters
This is a major legal development in the ongoing anti-corruption efforts involving high-profile former government officials in Nigeria.
The supreme court has affirmed the final forfeiture of properties and $2.045m linked to Godwin Emefiele , former governor of Central Bank of Nigeria (CBN), to the federal government.
In a unanimous judgment delivered on Friday, the apex court overturned the decision of the court of appeal in Lagos , which had nullified the forfeiture order.
The court held that the court of appeal erred when it overturned the forfeiture order and directed that the matter be reheard by the trial court.
On November 1, 2024, Deinde Dipeolu, judge of a federal high court in Lagos, ordered the permanent forfeiture of monies (including $2.045 million), seven choice landed properties and the two share certificates of Queensdorf Global Fund Limited Trust belonging to Emefiele, to the federal government.
The assets were said to be reasonably suspected to have been acquired with proceeds of unlawful activities.
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