In a unanimous decision issued on Friday, the Supreme Court set aside the Lagos Court of Appeal’s ruling, which had nullified the permanent forfeiture of seven landed properties, $2.045 million in cash, and share certificates linked to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
The apex court ruled that the appellate court erred when it overturned the original decision and ordered the trial court to rehear the matter. By doing so, the Supreme Court fully reinstated the judgment of the Federal High Court in Lagos, permanently vesting the assets to the Federal Government.
The Federal High Court in Lagos initially ordered the permanent forfeiture of the assets because it reasonably suspected that illegal proceeds were used to acquire them.
Following that order, Mr. Godwin Emefiele appealed to the Court of Appeal, which successfully overturned the trial court’s verdict.
Dissatisfied with that outcome, the Economic and Financial Crimes Commission (EFCC) petitioned the Supreme Court, which on Friday set aside the appellate court’s decision and fully reinstated the Federal High Court’s ruling.
Meanwhile the ruling comes roughly 19 months after the Federal High Court in Abuja ordered the permanent seizure of Mr. Emefiele’s massive estate, which comprises 753 housing units in Abuja. The EFCC has already turned the estate over to the federal government for public use.
Backstory…
The Supreme Court’s ruling is the latest development in the series of corruption and asset recovery cases involving former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following his removal from office in 2023.
Since then, the Economic and Financial Crimes Commission (EFCC) has filed multiple criminal charges against him, including allegations of abuse of office, procurement fraud, money laundering and unlawful possession of firearms, all of which Emefiele has denied.
Alongside the criminal proceedings, the anti-graft agency launched several civil asset recovery actions, arguing that numerous properties and funds allegedly linked to the former CBN governor were acquired through proceeds of unlawful activities.
Read Also: Court Seizes Emefiele’s $4.7M, N830M Billions, Assets!
Malami, Achimugu Forfeiture
Meanwhile, this comes amid similar cases involving other former public officers currently under investigation for money laundering and fraud.
On Thursday, July 16, an FCT High Court in Apo ordered the final forfeiture of properties linked to Aisha Achimugu, a businesswoman and founder of Oceangate Engineering Oil & Gas Ltd.
The presiding judge, Justice Jude Onwugbuzie, granted the definitive forfeiture to the Federal Government on Thursday following an application by the Economic and Financial Crimes Commission (EFCC).
The confiscated assets include jewelry worth N4.64 billion, eleven exotic cars valued at N4.29 billion, $50,000, and N30 million in cash.
Similarly, the Federal High Court in Abuja has also ordered the final forfeiture of 48 properties belonging to Ex- AGF, Abubakar Malami, the former Attorney General of the Federation and Minister of Justice, to the Federal Government.
Delivering the judgment on Wednesday 15 July, Justice Joyce Abdulmalik ruled that the Economic and Financial Crimes Commission (EFCC) had established the legally required reasonable suspicion to justify seizing the assets
Read Also: 48 Properties Linked to Ex-AGF Malami Forfeited by Court
