The Supreme Court of Nigeria has ordered the permanent and final forfeiture of seven luxury properties and millions of dollars in cash linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
In a unanimous judgment delivered on Friday, a five-member panel of the apex court, led by Justice Ibrahim Saulawa, upheld the appeal filed by the Economic and Financial Crimes Commission (EFCC), definitively stripping Emefiele of the multi-billion Naira properties and financial holdings.
The judgment, read by Justice Mohammed Idris, completely set aside a June 2025 decision by the Lagos Division of the Court of Appeal, which had temporarily halted the forfeiture and ordered a fresh trial under the guise of fair hearing concerns.
Apex court validates trial court ruling
The Supreme Court completely reinstated the original November 1, 2024 order passed by Justice Deinde Dipeolu of the Federal High Court in Lagos.
The trial court had initially granted the EFCC’s request for final forfeiture after ruling that the properties were strongly suspected to have been acquired via the proceeds of unlawful corporate activities.
By nullifying the appellate court’s intervention, the Supreme Court has officially vested absolute ownership of the properties and cash in the Federal Government of Nigeria, effectively exhausting Emefiele’s legal remedies regarding these specific assets.
Inside Emefiele’s seized real estate empire
The seized properties represent a staggering portfolio of prime real estate located in Nigeria’s most expensive neighbourhoods and Emefiele’s home state:
Lekki Phase 1, Lagos: Two massive, fully detached duplexes situated on Hakeem Odumosu Street.
Ikoyi, Lagos: An undeveloped, high-value prime parcel of land on Oyinkan Abayomi Drive.
Ikoyi, Lagos: A detached bungalow alongside an ultra-modern four-bedroom duplex.
Ikoyi, Lagos: Eight premium apartment units located on Adekunle Lawal Road.
Ikoyi, Lagos: A luxury duplex situated on Bank Road.
Agbor, Delta State: A massive industrial complex currently under construction, sprawling across 22 plots of land.
Uncontested $2.045 million forfeited
In addition to the extensive real estate empire, the Supreme Court confirmed the final forfeiture of $2.045 million in cash alongside high-value share certificates. The funds and shares belonged to Queensdorf Global Fund Limited Trust, an offshore entity linked to the transaction parameters, which went uncontested during the trials.
The legal showdown
The high-stakes appeal was fiercely argued for the EFCC by a heavyweight legal team led by a former Attorney-General of the Federation, Kanu Agabi (SAN), alongside the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN).
Godwin Emefiele’s defence was fronted by Senior Advocates of Nigeria Olalekan Ojo and Labi Lawal.
While the ruling permanently strips Emefiele of these particular assets, the former apex bank governor continues to face separate criminal trials instituted by the federal government regarding the controversial 2022 naira redesign policy and alleged multi-billion-dollar financial misconduct.
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