The Supreme Court on Friday affirmed the final forfeiture of seven landed properties, $2.045m and share certificates linked to a former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the Federal Government.
The apex court, in a unanimous judgment delivered by a five member panel led by Justice Ibrahim Mohammed Saulawa, set aside the decision of the Court of Appeal and restored the judgment of the Federal High Court in Lagos, which had ordered the final forfeiture of the assets after finding that they were reasonably suspected to have been acquired with proceeds of unlawful activities.
The Economic and Financial Crimes Commission had secured the forfeiture order at the Federal High Court on November 1, 2024. However, Emefiele challenged the decision at the Court of Appeal, which overturned the trial court’s judgment.
Dissatisfied with the appellate court’s decision, the anti graft agency approached the Supreme Court, which upheld its appeal and reinstated the Federal High Court’s ruling.
In the lead judgment, the apex court held that the assets were liable to forfeiture under the law, thereby affirming the earlier decision of the trial court.
The assets forfeited to the Federal Government include a fully detached duplex at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos, an undeveloped parcel of land measuring 1,919.592 square metres on Oyinkan Abayomi Drive, Ikoyi, Lagos, a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi, Lagos, a four bedroom duplex at 12A Probyn Road, Ikoyi, Lagos, an industrial complex under construction on 22 plots of land in Agbor, Delta State, eight units of undetached apartments at No. 8A Adekunle Lawal Road, Ikoyi, Lagos, and a duplex at 2A Bank Road, Ikoyi, Lagos.
The Supreme Court also ordered the forfeiture of $2.045m and the share certificates of Queensdorf Global Fund Limited to the Federal Government.
The final forfeiture order was originally granted by Justice D. I. Dipeolu of the Federal High Court, Lagos, in Suit No. FHC/L/MISC/500/24 following an application filed by the EFCC through its Director of Public Prosecution, Rotimi Oyedepo (SAN).
The commission brought the application pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).
According to court documents, the application was supported by an affidavit deposed to by an EFCC investigating officer, David Jayeoba, who stated that investigations showed the properties and funds were reasonably suspected to have been acquired with proceeds of unlawful activities.
The EFCC had urged the court to grant the forfeiture, arguing that the assets were liable to be permanently forfeited because they were reasonably suspected to have been acquired through unlawful means.
With Friday’s unanimous judgment, the Supreme Court has conclusively upheld the final forfeiture of the seven properties, $2.045m and the share certificates to the Federal Government, bringing the legal dispute over the assets to an end.
