In a significant ruling, a Federal High Court in Lagos has ordered former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, to forfeit substantial assets, including $2.045 million, several properties, and share certificates. This order follows allegations that the assets were acquired through questionable financial activities.

Justice Deinde Dipeolu of the Federal High Court ruled for the final forfeiture of assets tied to Emefiele. The court deemed that the properties and funds were “reasonably suspected” to be proceeds of crime. This decision reflects ongoing efforts to address financial misconduct among public officials in Nigeria.

The Economic and Financial Crimes Commission (EFCC) played a central role in the case, presenting evidence suggesting that certain companies were used to conceal and transfer funds on behalf of the former CBN governor. The EFCC claimed these assets were part of a broader scheme to launder money, leading to the court’s decision.

Back in August 2024, the court permitted the EFCC to temporarily seize these assets while investigations continued. With this final ruling, the Federal Government gains full rights to the cash, properties, and share certificates previously held by Emefiele.

This case underscores Nigeria’s commitment to holding public figures accountable for financial misdeeds. By reclaiming assets tied to potential corruption, the government sends a message about transparency and the lawful use of resources.