Justice Deinde Dipeolu had ordered the permanent forfeiture of $2.045 million, seven landed properties and two share certificates of Queensdorf Global Fund Limited Trust linked to Emefiele.
By Onwuka Mmesoma
365Daily – The Supreme Court has affirmed the final forfeiture of properties and $2.045 million linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered on Friday, the apex court set aside the decision of the Court of Appeal in Lagos, which had earlier nullified the forfeiture order and directed a retrial of the case.
The Supreme Court held that the appellate court erred in overturning the judgment of the Federal High Court and ordering that the matter be reheard.
The ruling restores the November 1, 2024 judgment of the Federal High Court in Lagos, where Justice Deinde Dipeolu ordered the permanent forfeiture of $2.045 million, seven landed properties and two share certificates of Queensdorf Global Fund Limited Trust linked to Emefiele.
The Economic and Financial Crimes Commission (EFCC) had argued that the assets were reasonably suspected to have been acquired through proceeds of unlawful activities.
The forfeited assets include two fully detached duplexes located at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi; a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi; and a four bedroom duplex at 12A Probyn Road, Ikoyi.
Also affected are an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of an undetached apartment building on Adekunle Lawal Road, Ikoyi; and a duplex situated on a 2,217.87 square metre plot at 2A Bank Road, Ikoyi, Lagos.
The case had taken a different turn in June 2025 when the Court of Appeal overturned the forfeiture order. In a split decision, two members of the three man panel set aside the trial court’s judgment and ordered that the matter be retried.
Delivering the lead judgment at the appellate court, Justice Abdulazeez Anka held that Emefiele’s legitimate earnings could reasonably account for the acquisition of the properties.
However, the court maintained the forfeiture of the $2.045 million, noting that Emefiele did not challenge that aspect of the judgment.
With the Supreme Court’s latest decision, the final forfeiture of both the properties and the funds to the Federal Government has now been upheld, bringing the legal dispute to a close.