In a unanimous ruling on Friday, the Supreme Court of Nigeria finalized the forfeiture of $2.45 million, various share certificates, and seven landed properties belonging to former Central Bank of Nigeria Governor Godwin Emefiele. The five-member panel, presided over by Justice Ibrahim Saulawa, overturned a previous Court of Appeal decision that had blocked the state from seizing the assets.
The assets were originally ordered forfeited by the Federal High Court in Lagos on November 1, 2024, after the Economic and Financial Crimes Commission (EFCC) argued they were obtained through illegal means. The Supreme Court concluded that Emefiele did not provide evidence to support the legitimate acquisition of these properties and funds.
Among the seized real estate are properties in Ikoyi, such as a four-bedroom duplex on Probyn Road, a bungalow on Oyinkan Abayomi Drive, and several apartment units. Additional holdings include a detached duplex in Lekki, an industrial project in Agbor, Delta State, and a large duplex on Bank Road in Ikoyi. Emefiele, who led the Central Bank from 2014 until 2023, remains involved in ongoing legal proceedings in both Lagos and Abuja.
