The Supreme Court has upheld the final forfeiture of several properties linked to former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, bringing an end to the legal battle over the assets.
In a unanimous judgement delivered by a five-member panel led by Justice Ibrahim Saulawa, the apex court overturned the decision of the Court of Appeal, Lagos Division, which had earlier ordered a fresh hearing of the forfeiture case.
The Supreme Court held that the Court of Appeal erred in setting aside the judgement of the Federal High Court in Lagos, which had granted the Economic and Financial Crimes Commission’s application for the final forfeiture of the properties to the Federal Government.
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By restoring the Federal High Court’s decision, the apex court reaffirmed the final forfeiture of the assets, effectively ending Emefiele’s challenge to the order.
The Court of Appeal had previously ruled that Emefiele was not given a fair opportunity to contest the forfeiture proceedings and directed the Federal High Court to conduct a retrial. However, the Supreme Court disagreed, finding that the lower court’s decision was not justified and consequently reinstated the original forfeiture order.
The ruling marks the latest development in the series of legal proceedings involving the former CBN governor, who has faced multiple investigations and charges following his suspension from office in June 2023.
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