SUPREME COURT SEIZES EMEFIELE’S $2M AND 7 HOUSES — FG WINS BIGGEST FORFEITURE CASE

SUPREME COURT SEIZES EMEFIELE’S $2M AND 7 HOUSES — FG WINS BIGGEST FORFEITURE CASE

The Supreme Court yesterday upheld the final forfeiture of 7 properties and $2.045 million linked to former CBN Governor Godwin Emefiele to the Federal Government.

The assets which includes luxury homes in Abuja, Lagos, and Dubai, bank accounts traced to shell companies allegedly used during his CBN tenure was uncovered and seized and forfeited to the federal government.

The case which was filled by EFCC under the proceeds of Crime ACT 2022 was taken to a lower court and was ruled that the former CBN chairman to forfeit, has now had the ruling upheld by the supreme court after declaring that the asset were not legitimately earned.

The government has however mentioned that all the confiscated assets proceeds must be approved by NASS before spending.

The news has created a avenue for. Nigeria to test the transparency of the FG on how the asset will be used to better the living standard of the citizens.