Court Orders Final Forfeiture of 52 Lagos Housing Units Adjudged Proceeds of Crime to FG

The Federal High Court in Lagos has ordered the final forfeiture of 52 terrace and maisonette housing units in the Lekki area to the federal government. The court ruled that these properties were acquired through unlawful activities, marking a significant victory for the Economic and Financial Crimes Commission (EFCC).

Justice Alexandra Owoeye delivered the ruling on Wednesday, granting the application filed by the EFCC's Lagos Zonal Directorate 2. 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. The EFCC stated that its lawyer argued convincingly that the properties were reasonably suspected to be proceeds of crime.

This decision brings to a close a legal battle that commenced in August 2024 when the EFCC first secured an interim forfeiture order. The commission was required to publish this order, inviting any interested parties to contest the forfeiture. The respondents challenged the final forfeiture, initially claiming the funds for development came from selling 29 other units worth N1.9 billion.

However, the court found material contradictions in the respondents' evidence. They later alleged that some units were incomplete, contradicting earlier claims of full construction by 2020. The judge noted these inconsistencies undermined the credibility of their defense. The EFCC also highlighted that one respondent, Mr. Nweke, faces separate criminal charges and has failed to appear for arraignment, with arrest warrants issued.

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The respondents' affidavit contained material contradictions that undermined its credibility.