WorldStage– Multiple fact checks and statements by lawyers to Mr. Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN) have proved to be false viral reports currently circulating that he has refunded about N4 trillion in fraud proceeds alleged against him.
Checks and have confirmed that there is no credible evidence to support this claim, which has circulated on social media.
On the contrary, what is known about the allegations and asset forfeitures related to Emefiele is that the unsubstantiated claim of a N4 trillion refund appears to have originated in late 2023 from a social media post and has been repeatedly debunked.
It’s also discovered that Nigeria’s law enforcement agencies, including the Economic and Financial Crimes Commission (EFCC), have never confirmed such a transaction.
In ongoing legal cases, Emefiele is facing multiple fraud and corruption charges brought by the EFCC and the cases are proceeding in various courts in Nigeria.
However, while there has been no N4 trillion refund, Nigerian courts have ordered the final forfeiture of billions of naira and millions of dollars, along with several high-value properties, that have been linked to Emefiele and his associates.
Some of the notable forfeitures include:
753 housing units in Abuja. In late 2024, a massive estate in Abuja, consisting of 753 duplexes and apartments, was ordered to be permanently forfeited to the Nigerian government.
The forfeiture also extended to sums of $4.7 million and N830 million which in February 2025, a court ordered after being traced to companies and individuals associated with Emefiele.
In June 2024, a Federal High Court also ordered the final forfeiture of properties valued at over N12.18 billion that were linked to the former CBN governor.
In response to some of these forfeiture orders, Emefiele’s legal team filed appeals. For instance, his lawyers argued in April 2025 that the forfeiture of the 753 housing units was based on a misrepresentation of facts by the EFCC and that he was denied a fair hearing.
A court later threw out his bid to reclaim the estate.
