Appeal Court Overturns Forfeiture of Emefiele’s Assets, Orders Retrial

The Court of Appeal in Lagos has nullified the final forfeiture of properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, and directed that the case be retried at the lower court.

In a split decision delivered on April 9, 2025, the appellate court ruled 2-1 in favor of setting aside the judgment of the Federal High Court in Lagos, which had earlier granted the Economic and Financial Crimes Commission (EFCC) a final forfeiture order.

The Federal High Court had, on November 1, 2024, approved the EFCC’s application to permanently seize a number of assets allegedly connected to Emefiele.

The properties previously forfeited to the Federal Government include:

Two fully detached duplexes located at 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos;

A 1,919.592 square metre parcel of undeveloped land at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos;