COURT ORDERS FINAL FORFEITURE OF 52 LAGOS HOUSING UNITS TO FEDERAL GOVERNMENT

COURT ORDERS FINAL FORFEITURE OF 52 LAGOS HOUSING UNITS TO FEDERAL GOVERNMENT

The Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette units located in Lekki, Lagos, to the Federal Government.
Justice Alexandra Owoeye gave the order in respect of the properties situated at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lagos.
The properties were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited following an application by the Economic and Financial Crimes Commission (EFCC).
The order followed a Motion on Notice filed and argued by counsel to the EFCC, Franklin Ofoma.
The anti-graft agency had earlier secured an interim forfeiture order on August 14, 2024, through Justice Akintayo Aluko after presenting evidence that the properties were suspected to be proceeds of unlawful activities.
The court subsequently directed the EFCC to publish the interim forfeiture order in a national newspaper, inviting interested parties to show cause why the assets should not be permanently forfeited.
Following the publication, the respondents filed an affidavit challenging the forfeiture and claimed that funds used to develop the estate were derived from the sale of 29 terrace and maisonette units valued at about ₦1.9 billion.
However, during proceedings, the court noted contradictions in the respondents’ submissions regarding the source of funds and the completion status of the housing units.
Arguing the application for final forfeiture, EFCC counsel, Franklin Ofoma, informed the court that the Commission had complied with all requirements relating to the publication of the interim forfeiture order.
He maintained that the properties were reasonably suspected to be proceeds of unlawful activities and urged the court to grant the application.
The EFCC also alleged that one of the respondents, Ifeanyi Nweke, was a fugitive who had failed to appear before courts handling criminal charges against him and had jumped administrative bail earlier granted by the Commission.
In her ruling, Justice Owoeye held that the court could not rely on conflicting evidence presented by the respondents.
The judge consequently rejected the affidavit filed by the respondents in opposition to the forfeiture application and granted the EFCC’s request for final forfeiture.
The ruling effectively transfers ownership of the 52 housing units to the Federal Government.