ABUJA, Nigeria (VOICE OF NAIJA)-The Supreme Court on Friday upheld the final forfeiture of seven landed properties, $2.045 million and share certificates associated with former Central Bank of Nigeria Governor, Godwin Emefiele, in favour of the Federal Government.
In a unanimous ruling delivered by a five-member panel headed by Justice Ibrahim Saulawa, the apex court overturned the judgment of the Court of Appeal and reinstated the earlier decision of the Federal High Court in Lagos, which found that the assets were reasonably suspected to have been acquired from proceeds of unlawful activities.
The judgment, delivered by Justice Mohammed Idris on behalf of the panel, affirmed the forfeiture order issued by Justice Deinde Dipeolu of the Federal High Court on November 1, 2024, in Suit No. FHC/L/MISC/500/24.
Emefiele had appealed the trial court’s ruling before the Court of Appeal in Lagos, which nullified the forfeiture order after holding that individuals claiming ownership of some of the assets were denied fair hearing. The appellate court consequently directed that the matter be reheard.
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Unhappy with that outcome, the Economic and Financial Crimes Commission approached the Supreme Court, asking it to restore the Federal High Court’s judgment.
The apex court agreed with the anti-graft agency and reinstated the forfeiture order, effectively transferring ownership of the assets to the Federal Government.
The assets forfeited include a fully detached duplex comprising identical structures at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped 1,919.592-square-metre parcel of land covered by Survey Plan No. DS/LS/340 on 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 undetached apartments situated 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 Supreme Court further upheld the forfeiture of $2,045,000 and share certificates belonging to Queensdorf Global Fund Limited to the Federal Government.
The final forfeiture order was initially secured after the EFCC, through its counsel and Director of Public Prosecution, Rotimi Oyedepo (SAN), filed an application 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 application, filed as an action in rem, sought the permanent forfeiture of assets reasonably suspected to have been acquired with proceeds of unlawful activities.
It was supported by an affidavit sworn to by EFCC investigating officer David Jayeoba, who stated that investigations indicated the assets were reasonably suspected to have been acquired through unlawful activities.
In its originating motion, the commission urged the court to grant the forfeiture under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, arguing that the properties were liable to forfeiture because they were reasonably suspected to have been obtained through unlawful means.
Justice Dipeolu granted the application on November 1, 2024, after ruling that the commission had met the legal requirements for civil forfeiture proceedings.
The matter is one of several cases instituted against Emefiele following his removal as CBN governor in 2023.
The former apex bank chief is currently facing multiple criminal charges in Abuja and Lagos over alleged procurement fraud, abuse of office and other financial crimes, allegations he has consistently denied.
He has also been involved in several interim and final forfeiture proceedings initiated by the EFCC as part of its ongoing asset recovery campaign.