The Supreme Court has upheld the final forfeiture of several properties and about $2.045 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, bringing to an end the legal dispute over the assets.

In a unanimous judgment delivered on Friday, the apex court set aside an earlier Court of Appeal ruling that had nullified the forfeiture order and directed a fresh hearing, affirming that the assets should remain forfeited to the Federal Government.

How the Case Began

The case stemmed from an application filed by the Economic and Financial Crimes Commission (EFCC).

On November 1, 2024, Justice Deinde Dipeolu of the Federal High Court in Lagos ordered the final forfeiture of $2.045 million, seven properties and share certificates in Queensdorf Global Fund Limited Trust after ruling that they were reasonably suspected to be proceeds of unlawful activities.

The court held that Emefiele and other interested parties failed to provide sufficient evidence to establish legitimate ownership of the assets.

Appeal Court Decision Overturned

Emefiele challenged the ruling at the Court of Appeal, which, in April 2025, overturned the forfeiture of the properties while upholding the forfeiture of the cash.

The appellate court had ruled that conflicting evidence required oral testimony and cross-examination before a final decision could be reached.

The Federal Government, through the EFCC, subsequently appealed the judgment at the Supreme Court.

Assets Covered by the Judgment

The forfeited assets include several high-value properties in Ikoyi and Lekki, Lagos, as well as an industrial complex under construction in Agbor, Delta State.

Among them are two detached duplexes in Lekki Phase 1, properties on Oyinkan Abayomi Drive in Ikoyi, a four-bedroom duplex on Probyn Road, and other residential developments.

The ruling also covers the forfeiture of approximately $2.045 million and share certificates linked to Queensdorf Global Fund Limited Trust.

Major Victory for EFCC

The judgment marks a significant victory for the EFCC in one of its high-profile asset recovery cases involving the former CBN governor.

Emefiele, who is facing separate criminal proceedings over alleged fraud and abuse of office, continues to contest the charges in court.

The Supreme Court’s decision now makes the forfeiture of the assets and funds final.