A Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette units in the Lekki area of Lagos to the Federal Government following an application by the Economic and Financial Crimes Commission (EFCC).
Justice Alexandra Owoeye delivered the ruling on Wednesday, July 15, 2026, ordering the forfeiture of the properties located 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.
The final forfeiture followed a Motion on Notice filed and argued by the Lagos Zonal Directorate 2 of the EFCC through its counsel, Franklin Ofoma.
The Commission had earlier secured an interim forfeiture order on August 14, 2024, from Justice Akintayo Aluko after filing an ex parte application.
The interim order was made in favour of real estate developer and Chief Executive Officer of Capital Gardens Limited, Dr. Kennedy Okonkwo.
Justice Aluko subsequently directed the EFCC to publish the interim forfeiture order in a national newspaper to allow any interested party to show cause why the properties should not be permanently forfeited to the Federal Government.
Following the publication, the respondents filed an affidavit opposing the final forfeiture.
According to the EFCC, the respondents initially claimed in their affidavit that the funds used to develop the 52 housing units were generated from the sale of a portion of land acquired through the sale of 29 terrace and maisonette units valued at N1.9 billion.
However, the Commission argued that the respondents later contradicted themselves by alleging that the third to 19th applicants failed to complete the various housing units, despite their earlier claim that proceeds from the sales had been used to complete the furnishing and interior decoration of the remaining units, with construction concluded in 2020.
While moving the application for final forfeiture, Ofoma informed the court that the EFCC had complied with the directive to publish the interim forfeiture order and that the application was supported by a 31-paragraph affidavit deposed to by Afolabi Seyi Oladele, a litigation officer in the Commission’s Legal Department.
He argued that the properties were reasonably suspected to be proceeds of unlawful activities and urged the court to order their permanent forfeiture.
The EFCC counsel also told the court that the second respondent, Ifeanyi Nweke, was a criminal fugitive who had failed to appear before Justice R.A. Oshodi and Justice Okunuga in separate criminal cases for arraignment.
According to him, two subsisting warrants of arrest had been issued against Nweke, who allegedly jumped the administrative bail earlier granted to him by the EFCC.
In her ruling, Justice Owoeye held that the respondents’ affidavit contained material contradictions, making it unreliable.
“Since this court cannot pick and choose which of the evidence given by the respondents to believe, it must consequently reject the entire affidavit evidence placed before it,” the judge held.
Justice Owoeye consequently rejected the respondents’ affidavit challenging the application and granted the EFCC’s request for the final forfeiture of the 52 terrace and maisonette units to the Federal Government.
