From Victor Osula, Abuja
The Supreme Court on Friday upheld the final forfeiture of seven landed properties, $2.045 million, and share certificates linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.
In a unanimous judgment delivered by a five-member panel led by Justice Ibrahim Mohammed Saulawa, the apex court set aside the decision of the Court of Appeal and restored the judgment of the Federal High Court, Lagos, which had ordered the permanent forfeiture of the assets.
The case arose from a final forfeiture order granted on November 1, 2024, by Justice D.I. Dipeolu of the Federal High Court, Lagos, in Suit No. FHC/L/MISC/500/24.
Following the ruling, Emefiele challenged the decision before the Court of Appeal, which overturned the trial court’s judgment.
Dissatisfied with the appellate court’s verdict, the EFCC appealed to the Supreme Court, arguing that the Federal High Court had rightly ordered the forfeiture under the relevant provisions of the law.
In its unanimous judgment, the apex court agreed with the anti-graft agency, nullified the Court of Appeal’s decision, and reinstated the judgment of the Federal High Court, affirming that the assets should remain permanently forfeited to the Federal Government.
The Supreme Court held that the properties, funds, and share certificates were reasonably suspected to have been acquired with proceeds of unlawful activities and were therefore liable to forfeiture.
Among the assets forfeited are seven high-value properties located in Lagos and Delta States.
They 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 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi; and a four-bedroom duplex at 12A Probyn Road, Ikoyi.
Also forfeited are an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of undetected apartments on a 2,457.60-square-metre plot at No. 8A Adekunle Lawal Road, Ikoyi; and a full duplex with all its appurtenances on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi.
The apex court also affirmed the forfeiture of $2,045,000 (Two Million, Forty-Five Thousand United States Dollars) and the share certificates of Queensdorf Global Fund Limited to the Federal Government.
The forfeiture proceedings were initiated by the EFCC through its Director of Public Prosecution, Rotimi Oyedepo, SAN, 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).
The Commission commenced the proceedings as an action in rem, seeking the forfeiture of assets it said were reasonably suspected to have been acquired with proceeds of unlawful activities.
The application was supported by an affidavit deposed to by EFCC investigating officer David Jayeoba, who told the court that investigations established reasonable grounds to believe that the properties, funds, and share certificates were acquired through unlawful means.
The anti-graft agency urged the court to order their final forfeiture in accordance with the provisions of the law governing proceeds of crime.
