Nigeria’s Supreme Court has affirmed the final forfeiture of several properties and more than $2 million linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele.
The apex court dismissed Emefiele’s appeal, effectively upholding the judgment of the Court of Appeal and the earlier Federal High Court order granting the Economic and Financial Crimes Commission (EFCC) final forfeiture of the assets.
The forfeited assets include multiple properties and funds totalling over $2 million, which the EFCC argued were proceeds of unlawful activities.
The Supreme Court’s decision brings to an end Emefiele’s legal challenge against the forfeiture order, reinforcing the anti-graft agency’s authority to permanently seize assets found to be linked to illicit activities under Nigeria’s asset recovery laws.
Emefiele, who served as CBN governor from 2014 until his suspension in June 2023, is currently facing multiple criminal charges brought by the EFCC relating to alleged abuse of office, procurement fraud and other financial crimes. He has pleaded not guilty to the charges, which remain before the courts.
The Supreme Court’s ruling means the forfeited properties and funds will remain in the custody of the Federal Government.