The Supreme Court has affirmed the final forfeiture of $2.045 million, seven luxury properties, and share certificates linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in favour of 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 previously set aside the forfeiture order.
The ruling upholds the earlier judgment of the Federal High Court in Lagos, which ordered the permanent forfeiture of the assets after determining that they could not be traced to legitimate sources of income.
The assets were seized following an investigation by the Economic and Financial Crimes Commission (EFCC), which maintained that the money, properties, and shares were suspected to be proceeds of unlawful activities.
The forfeited assets include luxury properties located in Ikoyi and Lekki, Lagos, an industrial complex under construction in Agbor, Delta State, and two share certificates belonging to Queensdorf Global Fund Limited Trust.
With the Supreme Court’s verdict, the assets have now been permanently transferred to the Federal Government, bringing the prolonged legal battle over the properties to a close.
