The Court of Appeal, Lagos Division, has set aside the final forfeiture of assets belonging to former Central Bank of Nigeria Governor
The Court of Appeal, Lagos Division, has set aside the final forfeiture of assets belonging to former Central Bank of Nigeria Governor, Godwin Emefiele, previously granted to the Federal Government.
In a two-to-one judgment delivered on April 9, 2025, the appellate court ordered a retrial at the lower court. The Federal High Court had, on November 1, 2024, granted the Economic and Financial Crimes Commission’s (EFCC) application to seize various properties and $2,045,000 linked to Emefiele.
Emefiele’s legal team, led by Olalekan Ojo (SAN), argued that the trial judge erred in evaluating evidence and failed to consider his legitimate income.
Justice Abdulazeez Anka ruled, “These funds are the legitimate earnings of the appellant… he can be able to afford the said properties in contention.”
However, Justice Danlami Senchi dissented, upholding the initial forfeiture. The appellate court maintained the forfeiture of the $2,045,000 but ordered the property case be reheard.