Cover49 minutes ago
Emefiele Loses As Supreme Court Forfeits Ex-CBN Gov’s Assets To FG
The Supreme Court restored the final forfeiture of seven properties and $2.045 million linked to former CBN Governor Godwin Emefiele. The apex court overturned the Court of Appeal’s judgment, which had ordered a fresh hearing of the case. The ruling upheld the 2024 Federal High Court decision granting the EFCC’s forfeiture application. The assets will be transferred to the Federal Government in line with the Supreme Court’s judgment. The Supreme Court on Friday reinstated the final forfeiture of seven high-value properties and $2.045m linked to a former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government. The apex court set aside an earlier judgment of the Court of Appeal, which had overturned the forfeiture order and directed that the case be heard afresh by the Federal High Court. In a unanimous judgment delivered by Justice Mohammed Idris, the Supreme Court upheld the 2024 decision of Justice Dehinde Dipeolu of the Federal High Court in Lagos. Justice Idris delivered the judgment on behalf of a panel led by Justice Ibrahim Mohammed Musa Saulawa. The Supreme Court held that the Court of Appeal erred when it set aside the final forfeiture order and ordered a fresh hearing of the case. Justice Dipeolu had granted an application by the Economic and Financial Crimes Commission (EFCC) for the final forfeiture of the properties and funds after holding that the anti-graft agency established its case concerning the assets. Dissatisfied with the decision, Emefiele, through his legal team led by Olalekan Ojo, SAN, approached the Court of Appeal. The appellate court, in its 2025 judgment, allowed Emefiele’s appeal, nullified the forfeiture order and directed that proceedings should begin afresh before the lower court....
