The Supreme Court of Nigeria has ordered the permanent forfeiture of seven luxury properties, $2.045 million in cash, and share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government.

 

The apex court, in a unanimous judgment delivered on Friday, July 17, 2026, overturned an earlier decision of the Court of Appeal, Lagos Division, which had nullified the forfeiture and directed a retrial of the case.

 

The five-member panel of the Supreme Court, led by Justice Ibrahim Saulawa, upheld the appeal filed by the Economic and Financial Crimes Commission (EFCC). The judgment, read by Justice Mohammed Idris, restored the November 1, 2024 ruling of the Federal High Court in Lagos, which had granted the final forfeiture order.

 

Justice Deinde Dipeolu of the Federal High Court had earlier held that the assets were reasonably suspected to be proceeds of unlawful activities and should be forfeited to the Federal Government.

 

The forfeited assets include seven high-value properties located in prime areas of Lagos, including Ikoyi and Lekki, as well as Agbor in Delta State. Also affected by the order are $2.045 million recovered in cash and share certificates belonging to Queensdorf Global Fund Limited Trust.

 

In its decision, the Supreme Court held that Emefiele failed to establish a verifiable connection between his legitimate earnings and the acquisition of the properties. The court further noted that corporate entities linked to the assets did not come forward to claim ownership during the proceedings, strengthening the EFCC’s position that the assets were proceeds of crime.

 

The ruling brings to an end the legal dispute over the forfeiture of the assets and represents a significant victory for the EFCC in its ongoing anti-corruption and asset recovery efforts.

 

Emefiele, who served as CBN governor from 2014 to 2023, has remained the subject of multiple investigations and legal proceedings following his exit from office.