Amanze Chinonye
The Supreme Court has upheld the final forfeiture of seven luxury properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, bringing to an end a protracted legal battle over the assets, Prime Business Africa reports.
In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Saulawa, the apex court set aside the Court of Appeal’s decision ordering a retrial of the forfeiture proceedings.
The ruling restored the earlier judgment of the Federal High Court in Lagos, which ordered the final forfeiture of the properties to the Federal Government.
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The Supreme Court held that the Federal High Court acted within the law in granting the forfeiture order, effectively dismissing Emefiele’s appeal and affirming the seizure of the assets.
The case arose from an application filed by the Economic and Financial Crimes Commission (EFCC), which argued that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities. Acting on the commission’s application, the Federal High Court in Lagos first granted an interim forfeiture order before making it final after considering the evidence and submissions of the parties.
The forfeited assets comprise seven high-value residential properties located in prime areas of Lagos. According to court documents, the properties include four-bedroom duplexes and luxury apartments in upscale estates, which the EFCC alleged were acquired through proxy owners using illicit funds.
Emefiele challenged the forfeiture, contending that he was denied a fair hearing because he was not properly served with the court processes. He also maintained that the properties did not belong to him and urged the courts to set aside the forfeiture order.
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Although the Court of Appeal had earlier ruled that the case should be reheard by the Federal High Court, the Supreme Court found no legal basis for that decision and reinstated the original forfeiture order, making the confiscation of the properties final.
The judgment represents a significant victory for the EFCC in its asset recovery campaign and concludes one of the agency’s most high-profile civil forfeiture cases involving the former CBN governor.
Emefiele, who served as CBN governor from 2014 until his suspension and subsequent removal from office in 2023, is also facing separate criminal charges over allegations of abuse of office, procurement fraud and other financial crimes. He has denied all the allegations, and the criminal cases remain pending before the courts.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
