The Federal Capital Territory (FCT) High Court in Apo has dismissed an application filed by former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, seeking to recover a sprawling real estate seized by the federal government. The court ruled that Emefiele failed to act within the required timeframe and could not establish a valid legal claim to the property.
On December 2, 2024, the Economic and Financial Crimes Commission (EFCC) secured a final forfeiture order for the estate, which sits on Plot 109, Cadastral Zone CO9, in the Lokogoma District of Abuja. The estate covers 150,500 square metres and includes 753 duplexes.
Although the EFCC initially linked the estate to a company, that company later denied ownership. Subsequently, Emefiele, through his lawyer A.M. Kotoye, approached the court as an interested party. He asked the court to give him more time to challenge both the interim and final forfeiture orders. He argued that he did not know about the proceedings because the EFCC published the notice in a difficult-to-find section of a newspaper. Moreover, he said he was preoccupied with defending himself in three ongoing criminal trials in Abuja and Lagos, which prevented him from responding on time.
Despite his arguments, Justice Jude Onwuegbuzie rejected Emefiele’s motion. The judge acknowledged that courts may revisit decisions under certain legal exceptions, but he found no valid reason to reopen the case. He explained that Section 17(2) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, clearly outlines the notification process required for forfeiture proceedings. According to the judge, the EFCC’s half-page notice in a national newspaper met the legal standard and could not be reasonably described as hidden.
Furthermore, the judge stressed that only individuals with a proven legal interest in forfeited assets have the right to contest them. He ruled that Emefiele failed to establish such an interest. In addition, he noted that Emefiele had over 14 days to challenge the forfeiture order but did not do so. Therefore, the court concluded that the former CBN governor forfeited his right to object.
In the end, Justice Onwuegbuzie dismissed the application and ruled in favor of the EFCC, confirming the final forfeiture of the estate.
What Led to Emefiele’s Legal Troubles?
Emefiele’s downfall began shortly after President Bola Tinubu suspended him from office in June 2023. His suspension followed months of public outcry over several controversial policies, especially the naira redesign initiative, which triggered a severe nationwide cash shortage and economic disruption.
Soon after the suspension, the Department of State Services (DSS) arrested Emefiele. Authorities accused him of terrorism financing, economic sabotage, and widespread abuse of office. Over time, the allegations expanded to include corruption, misappropriation of public funds, and unauthorized foreign exchange dealings. As the investigations progressed, the EFCC discovered multiple assets suspected to have been acquired through illicit means—including the seized Abuja estate.
Although the estate was initially linked to a private company, the firm disclaimed ownership. This prompted Emefiele to claim an interest in the property. However, he failed to present solid evidence to back that claim or to meet the legal timeline required for objections.
More Setbacks for the Former CBN Governor
This ruling marks another major setback for Emefiele, who continues to battle several criminal charges in courts across Abuja and Lagos. Once seen as a powerful technocrat in Nigeria’s financial sector, Emefiele now faces serious allegations that threaten to overshadow his legacy.
By dismissing his motion, the court reaffirmed the EFCC’s authority to seize assets suspected to be proceeds of crime, provided due process is followed. Legal analysts say this outcome highlights the importance of timely legal responses and clear proof of ownership in forfeiture proceedings.
As Emefiele’s trials continue, his future remains uncertain. His failed attempt to reclaim the Abuja estate adds to a growing list of legal defeats that could shape the final chapter of his controversial career.
