Court Orders Retrial in Emefiele’s Property Forfeiture Case
The Court of Appeal in Lagos has set aside the final forfeiture order issued by a Federal High Court on assets linked to Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), and ordered a retrial of the case.
Delivering judgment on April 9, 2025, in appeal CA/LAG/CV/1051/24, a two-member majority of the three-judge panel ruled that the lower court failed to properly evaluate the evidence before granting the Economic and Financial Crimes Commission’s (EFCC) application for final forfeiture.
The properties, which include high-end real estate in Lagos and Delta states and share certificates, were previously declared permanently forfeited to the federal government on November 1, 2024, by Justice Deinde Dipeolu. They were said to be acquired with the proceeds of unlawful activities.
However, Justice Abdulazeez Anka, delivering the lead judgment, said: “These funds are the legitimate earnings of the appellant as provided and the contention of the appellant as I do comprehend is that from his earnings from the days he was at Zenith Bank up to his career as CBN governor for 10 years in office, he can be able to afford the said properties in contention.”
“In effect, the court hereby sets aside the final forfeiture order made by the trial court of 1st November 2024.”
The court ordered a retrial, stating, “the appeal succeeds in part… it is also hereby ordered that the case be remitted to the trial court for a rehearing.” However, the appellate court upheld the forfeiture of $2,045,000, noting that “the appellant did not contest the forfeiture” of the sum.
