A Federal High Court in Lagos has ordered the interim forfeiture of a Park View Estate property linked to a N986 million diesel fraud. EFCC alleges the house was bought with diverted funds
N986m Diesel Fraud: Court Orders Interim Forfeiture of Park View Property
Justice Dehinde Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, has ordered the interim forfeiture of a luxury property located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos.
The order follows an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC), over the property’s alleged link to a N986 million diesel supply fraud.
The EFCC, through its counsel C. C. Okezie, sought the court’s intervention pursuant to Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and Section 44(2)(b) of the 1999 Constitution, to preserve the asset pending a motion for final forfeiture.
While moving the application, Okezie informed the court that the property in question was allegedly purchased with proceeds from a fraudulent Automotive Gas Oil (AGO) supply deal involving Mrs. Hannah Ify Nwaguzor, Mr. Ajayi Edward Olushola, and others.
The application was supported by a sworn affidavit from EFCC investigator Waziri Abdullahi. According to Abdullahi, the Commission received a petition from Prince Chukwulota Benneth Onuoha, along with two firms — G3 Solid Farms & Agro Allied Industries and Bohr Energy Limited — alleging that the suspects defrauded them of N986 million under the pretext of supplying diesel.
The petitioners had been introduced to Nwaguzor and Olushola by one Irene Abidemi in May 2024. Based on their representations, Bohr Energy Limited transferred the sum to Mozann Global Merchants Limited on May 14 and 15, 2024.
However, no product was delivered, and the entire N986 million was allegedly diverted. Investigations later revealed that N500 million of the funds was routed to Hola Jayu Nigeria Limited, from which N261 million was paid to one Orobosa Michael Ubogu for the acquisition of the Park View property.
“The said property, described in Schedule A of the application, was acquired with proceeds of the alleged fraud and not from any legitimate source of income,” Okezie submitted in her written address.
She argued that the interim forfeiture was necessary as “a preventive measure to safeguard suspected proceeds of crime,” and urged the court to grant the motion in the interest of justice.
In his ruling, Justice Dipeolu granted the interim forfeiture of the property and ordered that the decision be published in a national daily. The publication will invite any interested parties to appear before the court within 14 days and show cause why the property should not be permanently forfeited to the Federal Government.
The matter was adjourned to September 2, 2025, for the hearing of the motion for final forfeiture. Read More
