Emefiele: Supreme Court okays forfeiture of $2m, properties, share certificates to FG

By Ikechukwu Nnochiri

ABUJA— The Supreme Court, on Friday, upheld the final forfeiture of seven landed properties, the sum of $2.45 million, and share certificates linked to the embattled former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, to the Federal Government.

The apex court, in a unanimous decision by a five-member panel led by Justice Ibrahim Saulawa, vacated the judgment of the Lagos Division of the Court of Appeal, which had denied the FG the right to take over the listed assets.

The appellate court had reversed a verdict of the Federal High Court in Lagos, which had ordered the final forfeiture of the assets on the grounds that they were reasonably suspected to have been acquired with proceeds of unlawful activities.

Emefiele had approached the appellate court to challenge the high court judgment, which he insisted occasioned a miscarriage of justice against him.