BREAKING: Supreme Court affirms final forfeiture of $2m, properties linked to Emefiele
The Supreme Court has upheld the final forfeiture of $2.045 million, seven high-value properties, and share certificates linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele to the Federal Government.
In a unanimous judgment delivered on Friday, the apex court set aside the earlier ruling of the Court of Appeal in Lagos, which had nullified the forfeiture order.
The decision affirms the judgment of the Federal High Court in Lagos, which ordered the permanent forfeiture of the assets after fin
The forfeiture followed an investigation by the Economic and Financial Crimes Commission (EFCC), which argued that the cash, properties and shares were reasonably suspected to be proceeds of unlawful activities.
Among the forfeited assets are luxury properties in Ikoyi and Lekki, Lagos, an industrial complex under construction in Agbor, Delta State, as well as two share certificates belonging to Queensdorf Global Fund Limited Trust.
With the Supreme Court's ruling, the assets are now permanently forfeited to the Federal Government, bringing the legal dispute over the properties to an end.
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