The Lagos Division of the Court of Appeal has nullified a final forfeiture order that transferred assets belonging to former Central Bank of Nigeria Governor, Godwin Emefiele, to the Federal Government.
In a split decision (2-1) delivered on April 9, 2025, and detailed in a certified true copy obtained by our correspondent on Sunday, the appellate court overturned the earlier ruling. It directed that the case be retried at the Federal High Court.
The initial forfeiture order was granted on November 1, 2024, when the Federal High Court in Lagos ruled in favor of the Economic and Financial Crimes Commission (EFCC), allowing the agency to seize Emefiele’s assets.
Among the properties forfeited were:
- Two detached duplexes at 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos
- An undeveloped plot measuring 1,919.592 sqm on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi
- A bungalow at 65A Oyinkan Abayomi Drive, Ikoyi
- A four-bedroom duplex at 12A Probyn Road, Ikoyi
Other seized assets included:
- An industrial complex under construction on 22 plots in Agbor, Delta State
- Eight uncompleted apartments on a 2,457.60 sqm plot at 8A Adekunle Lawal Road, Ikoyi
- A detached duplex on a 2,217.87 sqm plot at 2A Bank Road, Ikoyi
- $2,045,000 in cash and share certificates in Queensdorf Global Fund Limited
The EFCC had claimed the assets were proceeds of unlawful activity. However, Emefiele, represented by his lead counsel Olalekan Ojo (SAN), contested the ruling and filed an appeal.
The EFCC was listed as the sole respondent in the case, marked CA/LAG/CV/1051/24.
