The Supreme Court has reaffirmed the forfeiture of over $2.045 million and seven high-value properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in favour of the Federal Government.

In a unanimous judgment delivered by Mohammed Idris, the apex court set aside the earlier ruling of the Court of Appeal, which had nullified the forfeiture order and directed a fresh hearing.

The decision, delivered on behalf of a panel led by Ibrahim Mohammed Musa Saulawa, upheld the 2024 judgment of Dehinde Dipeolu of the Federal High Court, Lagos, which granted final forfeiture of the assets.

The court ruled that the Court of Appeal erred in overturning the forfeiture, thereby restoring the initial judgment in full.

The forfeiture followed an application by the Economic and Financial Crimes Commission, which successfully established that the assets were proceeds of unlawful activities.

Emefiele had earlier challenged the ruling at the Court of Appeal through his legal team led by Olalekan Ojo, SAN. The appellate court ruled in his favour in 2025, ordering a retrial of the case.

However, the EFCC, represented by Kanu Agabi, Rotimi Oyedepo, and Abba Mohammed, SAN, appealed to the Supreme Court, which has now overturned the appellate court’s decision.

The forfeited assets include multiple properties in Ikoyi and Lekki, Lagos, as well as an industrial complex under construction in Agbor, Delta State. An undeveloped land parcel and several apartment units are also affected.

Additionally, the court reinstated the forfeiture of $2.045 million in cash and share certificates linked to Queensdorf Global Fund Limited.

The assets are to be handed over to the Federal Government in accordance with the final forfeiture order.