By Peace Erewunmi

The Supreme Court has affirmed the final forfeiture of seven properties, $2.045 million and share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government, bringing to a close a major legal battle over the assets.

In a unanimous judgment delivered on Friday, the apex court set aside the earlier decision of the Court of Appeal in Lagos, which had overturned the forfeiture order made by the Federal High Court. The Supreme Court restored the trial court’s judgment, holding that the assets should remain permanently forfeited to the Federal Government.

According to the Economic and Financial Crimes Commission (EFCC), the forfeited assets include seven landed properties in Lagos and Delta states, $2.045 million in cash, and share certificates. The anti-graft agency had argued that the assets were reasonably suspected to have been acquired through proceeds of unlawful activities.

The EFCC had initially secured a final forfeiture order from the Federal High Court in Lagos. Although the Court of Appeal later nullified that decision and ordered a fresh hearing, the anti-graft agency challenged the ruling before the Supreme Court, which has now ruled in its favour.

Reacting to the judgment, the EFCC described the ruling as a significant victory in the fight against corruption and financial crimes. The Commission said the decision reinforces the principle that assets proven to be proceeds of unlawful activities can be permanently forfeited to the government in accordance with the law.