The Supreme Court has ordered the final forfeiture of seven luxury properties linked to former Central Bank of Nigeria Governor, Mr. Godwin Emefiele, bringing an end to years of legal battle over the assets.
In a unanimous judgment delivered on Thursday, a five-member panel of the apex court led by Justice Ibrahim Saulawa set aside the decision of the Court of Appeal, Lagos Division, which had earlier nullified the forfeiture order and directed a retrial.
The Supreme Court held that the appeal filed by the Federal Government had merit and restored the final forfeiture order earlier granted by the Federal High Court in Lagos.
With the ruling, the legal challenge mounted by Emefiele against the forfeiture of the high-value properties has been dismissed.
Background Of The Case
The Federal High Court had in an earlier ruling ordered the permanent forfeiture of the seven properties to the Federal Government on the grounds that they were acquired with proceeds suspected to be illegitimate.
Emefiele had approached the Court of Appeal to challenge the order. The appellate court nullified the forfeiture and ordered that the case be retried, a decision the Federal Government appealed at the Supreme Court.
In overturning the Court of Appeal’s judgment, the apex court said the trial court was right to have ordered the final forfeiture of the assets.
The properties, described by court filings as luxury real estate, were among several assets linked to investigations into the tenure of the former CBN governor.
What The Ruling Means
Legal experts say the Supreme Court’s decision effectively closes the chapter on this particular forfeiture case and reinforces the government’s anti-corruption drive to recover assets allegedly acquired through abuse of public office.
The judgment is also expected to strengthen the Federal Government’s position in other pending asset recovery cases linked to former public officials.
Emefiele is currently facing multiple charges bordering on financial impropriety, abuse of office, and fraud filed by the Federal Government.
As at press time, there was no immediate reaction from Emefiele’s legal team to the Supreme Court’s decision.
