The Supreme Court has upheld the final forfeiture of assets linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, dealing a major blow to his efforts to reclaim properties and funds seized by the Federal Government.
In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Saulawa, the apex court overturned an earlier decision of the Court of Appeal in Lagos, which had set aside a Federal High Court order granting the forfeiture.
The assets include seven high-value properties in Lagos and Delta State, $2.45 million in cash, and share certificates. The Economic and Financial Crimes Commission (EFCC) had argued that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities.
The Supreme Court agreed with the anti-graft agency, holding that Emefiele failed to provide sufficient evidence that the assets were legitimately acquired. The court consequently restored the Federal High Court’s forfeiture order.
The ruling comes as Emefiele continues to face multiple criminal charges in Abuja and Lagos. While anti-corruption advocates have welcomed the judgment as a victory for accountability, critics argue that Nigeria’s anti-graft institutions must pursue such cases consistently, regardless of political affiliations or changes in government.
