An Abuja High Court has dismissed former Central Bank of Nigeria (CBN) Governor Godwin Emefiele’s bid to reclaim a substantial estate comprising 753 duplexes in the Lokogoma District, Abuja.
The court ruled that Emefiele had ample opportunity to contest the forfeiture but failed to do so within the stipulated timeframe. Consequently, the property remains permanently forfeited to the federal government.The Economic and Financial Crimes Commission (EFCC) had secured the final forfeiture of the estate, spanning 150,500 square meters, in December 2024. Justice Jude Onwuegbuzie of the Federal Capital Territory High Court in Apo declared that Emefiele did not provide sufficient grounds to retain ownership of the property, which was suspected to have been acquired through unlawful activities. The EFCC's investigation revealed that the estate was developed using funds linked to fraudulent schemes involving Emefiele and his associates .
This ruling marks a significant development in the EFCC's asset recovery efforts, highlighting the agency's commitment to addressing corruption and financial crimes. The forfeiture of the estate is considered one of the largest single asset recoveries in Nigeria's history, underscoring the importance of holding public officials accountable for illicit enrichment.
While the court's decision concludes the legal proceedings concerning the forfeiture, Emefiele continues to face multiple charges related to corruption and misconduct during his tenure at the CBN. The EFCC's ongoing investigations and legal actions aim to ensure that individuals implicated in financial crimes are brought to justice, reinforcing the rule of law and promoting transparency in public office.
