Adedokun Waliyu The Supreme Court has restored the final forfeiture of seven high-value properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, overturning an earlier judgment of the Court of Appeal that had ordered a retrial of the case.
A five-member panel of the apex court, led by Justice Ibrahim Saulawa, unanimously allowed the appeal filed by the Economic and Financial Crimes Commission (EFCC) and set aside the decision of the Court of Appeal, Lagos Division, which had nullified the forfeiture order issued by the Federal High Court in Lagos.
The judgment, delivered by Justice Mohammed Idris on behalf of the panel, affirmed the ruling of Justice Deinde Dipeolu of the Federal High Court, who had ordered the final forfeiture of the assets to the Federal Government after finding that they were reasonably suspected to be proceeds of unlawful activities.
The EFCC’s appeal was argued by a legal team led by former Attorney General of the Federation, Kanu Agabi (SAN), alongside the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN). Godwin Emefiele was represented by Senior Advocates of Nigeria, Olalekan Ojo and Labi Lawal.
With the Supreme Court’s decision, the legal challenge against the forfeiture order has been concluded, restoring the Federal High Court’s judgment.
The forfeited assets include two fully detached duplexes located at 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 65A Oyinkan Abayomi Drive, Ikoyi; a four-bedroom duplex at 12A Probyn Road, Ikoyi; an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight apartment units on Adekunle Lawal Road, Ikoyi; and another duplex situated on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.
The court also upheld the forfeiture of 2.045 million US dollars in cash and share certificates belonging to Queensdorf Global Fund Limited Trust, which were not contested.
The Federal High Court had initially granted the EFCC’s application for final forfeiture after ruling that the commission had established reasonable grounds to believe the assets were acquired through proceeds of unlawful activities.
However, the Court of Appeal later overturned that decision, holding that some interested parties claiming ownership of certain properties were denied fair hearing. It ordered the matter to be returned to the Federal High Court for fresh proceedings and the presentation of evidence by all parties.
Dissatisfied with the appellate court’s judgment, the EFCC approached the Supreme Court, seeking the restoration of the original forfeiture order.
In its final ruling, the Supreme Court agreed with the EFCC’s arguments, set aside the Court of Appeal’s decision, and reinstated the Federal High Court’s order, thereby confirming the permanent forfeiture of the listed properties to the Federal Government.
