A Federal High Court in Lagos has ordered the permanent forfeiture of 52 terrace and maisonette housing units in Lekki, Lagos State, to the Federal Government after ruling that the properties were acquired through proceeds of unlawful activities.
Justice Alexander Owoeye delivered the judgment while granting an application filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).
The anti-graft agency disclosed that the properties, located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.
According to the EFCC, its counsel, Franklin Ofoma, urged the court to grant a final forfeiture order after investigations established reasonable grounds to believe the estate was financed with proceeds of unlawful activities. The application was supported by a 31-paragraph affidavit sworn to by Afolabi Oladele, a litigation officer in the commission’s Legal Department.
The legal process began in August 2024 when the court granted an interim forfeiture order following an ex parte application by the EFCC. In line with the court’s directive, the commission published the order in a national newspaper, inviting anyone with an interest in the properties to show cause why they should not be permanently forfeited.
The respondents opposed the application, arguing that the funds used to develop the estate came from the sale of 29 housing units worth about N1.9 billion.
However, the EFCC told the court that the respondents later contradicted their claims by stating that some of the housing units were still incomplete, despite earlier insisting that construction had been completed in 2020 using proceeds from previous sales.
The commission further informed the court that the second respondent, Ifeanyi Nweke, is facing criminal charges before two Lagos State High Courts but has repeatedly failed to appear for arraignment. It added that two arrest warrants had been issued against him and that he also failed to honour an administrative bail granted by the EFCC.
In her ruling, Justice Owoeye held that the respondents’ affidavit contained material contradictions, making it unreliable. She struck out the affidavit, noting that the court could not reconcile the conflicting versions presented by the respondents.
The judge ruled that, with no credible evidence challenging the EFCC’s case, the commission had successfully established reasonable grounds to believe the properties were proceeds of unlawful activities.
She consequently ordered the final forfeiture of the 52 housing units to the Federal Government.
The judgment marks another significant asset recovery success for the EFCC. In recent weeks, courts have also ordered the final forfeiture of 48 properties linked to former Attorney General of the Federation Abubakar Malami, as well as jewellery, luxury vehicles and cash recovered from businesswoman Aisha Achimugu. The Supreme Court also affirmed the forfeiture of mansions, land, share certificates and more than $2 million linked to former Central Bank of Nigeria Governor Godwin Emefiele.
