Breaking News: Appeal Court Overturns Final Forfeiture of Emefiele’s Properties, Orders Retrial
The Court of Appeal, Lagos Division, has nullified the final forfeiture order granted against properties linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, handing a major legal victory to the embattled former apex bank chief.
In a split judgment delivered on April 9, 2025, and obtained by Lagos Reporters on Sunday, the appellate court ruled two-to-one in favour of setting aside the Federal High Court’s earlier decision that allowed the Economic and Financial Crimes Commission (EFCC) to permanently seize Emefiele’s assets.
The court also ordered a fresh trial of the matter at the lower court, citing procedural and legal concerns.
Back in November 2024, the Federal High Court in Lagos had approved the EFCC’s request for the final forfeiture of several high-value properties allegedly linked to Emefiele. These included:
Two fully detached duplexes at No. 17B, Hakeem Odumosu Street, Lekki Phase 1, Lagos;
A 1,919.592-square-metre undeveloped plot on Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi;
A bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi; and
A four-bedroom duplex at No. 12A, Probyn Road, Ikoyi.
The appellate court's ruling reopens the legal battle surrounding Emefiele’s alleged assets and the EFCC’s efforts to tie them to financial crimes during his time in office.
Legal analysts say the retrial could either reinforce or unravel the government's case, depending on how the evidence is re-presented in court.