Supreme Court confirms final seizure of properties and cash linked to Emefiele

The Supreme Court, on Friday, confirmed the permanent seizure of seven properties, over $2 million, and share certificates linked to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN).

A five-member panel delivered a unanimous decision, throwing out the Court of Appeal's ruling in Lagos that had lifted the seizure order on these assets.

The Federal High Court in Lagos had ordered the final seizure of these assets because they were believed to have been obtained through illegal means.

After this order, Mr Emefiele challenged the decision in the Court of Appeal, which overturned the trial court's ruling.

Unhappy with the appellate court’s decision, the Economic and Financial Crimes Commission (EFCC) took the matter to the Supreme Court. On Friday, the Supreme Court restored the Federal High Court's ruling.

The Supreme Court panel, led by Justice Ibrahim Saulawa, stated that the Federal High Court in Lagos made the right decision to permanently seize the assets. The court said they were likely obtained through illegal activities. This ruling canceled the Court of Appeal’s decision that had lifted the seizure order.

This ruling comes about 19 months after the Federal High Court in Abuja ordered the final seizure of a large estate with 753 housing units that were taken from Mr Emefiele. The EFCC has since given this estate to the federal government for public use.

The assets that Mr Emefiele lost based on Friday’s Supreme Court ruling include:

• A fully detached duplex at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos
• An undeveloped land measuring 1,919.592 square metres at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos
• A bungalow at No. 65A Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos
• A four-bedroom duplex at 12A Probyn Road, Ikoyi, Lagos
• An industrial complex under construction on 22 plots of land in Agbor, Delta State
• Eight units of undetached apartments on a plot measuring 2,457.60 square metres at No. 8A Adekunle Lawal Road, Ikoyi, Lagos
• A full duplex with all its facilities on a plot measuring 2,217.87 square metres at 2A Bank Road, Ikoyi, Lagos
• $2,045,000
• Share certificates of Queensdorf Global Fund Limited

Justice Deinde Dipeolu of the Federal High Court in Lagos granted the final seizure order on 1 November 2024. This followed an application by Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN), who acted as the Director of Public Prosecution.

He filed the application in the case marked FHC/L/MISC/500/24 under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution.

The application was for the permanent seizure of properties believed to be acquired through illegal means.

The request for seizure was backed by an affidavit from David Jayeoba, an EFCC investigating officer, who provided details from his investigation.

Mr Jayeoba stated that investigations showed the assets were likely acquired through illegal activities.

The EFCC asked the court to approve the final seizure based on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, arguing that the assets were subject to seizure as they were believed to have been obtained unlawfully.

Mr Emefiele, who was removed from his position as CBN governor by President Bola Tinubu in 2023, faces several corruption charges in Lagos and Abuja related to his time in office. But Friday’s ruling is a non-conviction-based seizure, meaning the assets were taken without a criminal conviction.

This latest seizure adds to the list of properties recovered from Mr Emefiele through court actions since his removal over corruption claims in June 2023.

In December 2024, the EFCC secured a court order for the final seizure of a large estate with 753 housing units in Abuja linked to Mr Emefiele.

Five months later, in May 2025, the federal government transferred the estate, covering 150,500 square metres, located on Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, to the government.

The Supreme Court’s order also continues the trend of permanent seizure orders the EFCC has secured this week against luxury items like cars and jewelry, large properties, a university, schools, and factories taken from influential persons.