A Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette units located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, to the Federal Government.
Justice Alexandra Owoeye delivered the ruling after granting an application filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), which argued that the properties were reasonably suspected to be proceeds of unlawful activities.
The properties were recovered from Fielddreams Limited, Ifeanyi Nweke, and Amex Savings and Loans Limited. The EFCC had earlier secured an interim forfeiture order in August 2024, after which the court directed the commission to publish the order, inviting interested parties to show cause why the assets should not be permanently forfeited.
During the proceedings, EFCC counsel, Franklin Ofoma, told the court that the commission had complied with all legal requirements and maintained that the assets were linked to alleged illicit activities. He also informed the court that the second respondent, Ifeanyi Nweke, was a fugitive facing pending criminal charges and had failed to honour court proceedings despite existing warrants for his arrest.
In her ruling, Justice Owoeye rejected the respondents’ affidavit, citing contradictions in their explanation of how the properties were financed. The court held that the inconsistencies rendered the evidence unreliable and consequently ordered the final forfeiture of the 52 properties to the Federal Government.
