KillBait - News highlights delivered clearly and responsibly—no clickbait, no sensationalism
Supreme Court confirms forfeiture of Emefiele's assets to Federal Government
Photo: Businessday NG
2026-07-17 22:59   Justice   10

Supreme Court confirms forfeiture of Emefiele's assets to Federal Government

The Supreme Court has confirmed the final forfeiture of seven landed properties, $2.045 million, and share certificates linked to former CBN Governor Godwin Emefiele to the Federal Government.

This decision, delivered by a five-member panel led by Justice Ibrahim Saulawa, overturned the Court of Appeal's earlier ruling and restored the Federal High Court's judgment.The court ruled that the assets were reasonably suspected to have been acquired through unlawful activities.

The Economic and Financial Crimes Commission (EFCC) successfully challenged the Court of Appeal's decision, leading to the reinstatement of the Federal High Court's order.The forfeited assets include properties in Lagos and Delta State, as well as shares in Queensdorf Global Fund Limited.The case originated from a 2024 Federal High Court ruling, where the EFCC argued that the assets were linked to unlawful proceeds.The court's decision marks the end of the legal battle, emphasizing the legal threshold for confiscation under relevant laws.

Full reading at Businessday NG

2189 
Top Trends
Topics
Top visited