Court Affirms Forfeiture of Emefiele’s Properties, Funds and Shares

The Supreme Court on Friday affirmed the final forfeiture of seven landed properties, 2.045 million U.S. dollars, and share certificates linked to former Central Bank of Nigeria Governor Godwin Emefiele, ruling that the assets be handed over to the Federal Government.

Delivering a unanimous judgment in Abuja, a five-member panel led by Justice Ibrahim Saulawa restored the earlier decision of the Federal High Court in Lagos, which found that the assets were reasonably suspected to have been acquired with proceeds of unlawful activities.

 The apex court overturned the Court of Appeal's earlier ruling that had ordered a fresh hearing after holding that some interested parties were denied a fair hearing.

The Economic and Financial Crimes Commission had appealed the appellate court's decision, arguing that the Federal High Court's forfeiture order was lawful and should be reinstated.

 The Supreme Court agreed with the anti-graft agency, holding that the evidence before the trial court justified the final forfeiture of the assets.