The Supreme Court has affirmed the final forfeiture of seven luxury properties, $2.045 million and two share certificates linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to the Federal Government.
The ruling overturned an earlier Court of Appeal judgment and restored the forfeiture order made by the Federal High Court in Lagos.
Here are the major assets Emefiele has now permanently forfeited:
1. Two Luxury Duplexes in Lekki Phase 1, Lagos
Two fully detached duplexes of identical design located at 17B Hakeem Odumosu Street, Lekki Phase 1, one of Lagos’ most exclusive residential neighbourhoods.
2. Prime Ikoyi Land
A vacant parcel of land measuring 1,919.592 square metres located on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, one of Nigeria’s most expensive real estate locations.
3. Ikoyi Bungalow
A bungalow situated at 65A Oyinkan Abayomi Drive, Ikoyi, Lagos, also forfeited to the Federal Government.
4. Four-Bedroom Duplex in Ikoyi
A luxury four-bedroom duplex located at 12A Probyn Road, Ikoyi, another high-end property in the Lagos metropolis.
5. Industrial Complex in Delta State
An industrial complex under construction spread across 22 plots of land in Agbor, Delta State, now permanently forfeited.
6. Eight Luxury Apartments in Ikoyi
An eight-unit apartment complex built on a 2,457.60-square-metre plot at 8A Adekunle Lawal Road, Ikoyi.
7. Duplex on Bank Road, Ikoyi
Another luxury duplex with all its appurtenances located on a 2,217.87-square-metre plot at 2A Bank Road, Ikoyi, Lagos.
8. $2.045 Million Cash
The Supreme Court also affirmed the forfeiture of $2.045 million, which had earlier been upheld even by the Court of Appeal.
9. Queensdorf Global Fund Trust Shares
Two share certificates belonging to Queensdorf Global Fund Limited Trust were also permanently forfeited.
The assets were initially seized by the Economic and Financial Crimes Commission (EFCC), which argued they were reasonably suspected to have been acquired with proceeds of unlawful activities.
With the Supreme Court’s unanimous judgment, the properties, cash and shareholdings now belong permanently to the Federal Government, bringing the lengthy legal battle over the former CBN governor’s assets to an end.
