Justice Daniel Osiagor of the Federal High Court, Ikoyi, Lagos, has ordered the final forfeiture of two properties, multiple luxury vehicles, and cash sums totaling over ₦326 million and $480,000 to the Federal Government of Nigeria.
The ruling, delivered on Friday, July 11, 2025, followed a motion filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, H.U. Kofarnaisa.
According to the EFCC, the assets are proceeds of a N2.007 billion fraud perpetrated against customers of a first-generation bank.
The assets include a three-bedroom bungalow located at No. 8 Grace Crescent, Efab Queens Estate, Gwarimpa, Abuja; luxury vehicles such as a Mercedes Benz C300, BMW 3 Series SUV, 2012 Range Rover, and three Toyota Hilux trucks (models 2008, 2010, and 2014); a 2016 BMW SUV; and two additional Range Rovers.
In a supporting affidavit, EFCC investigator Sulaiman Aminu Muhammad revealed that the Commission received a petition from the affected bank, alleging unauthorised debit transactions on multiple customer accounts.
Further investigation uncovered that Atus Homes Limited fraudulently received ₦681.2 million from 126 accounts, while Fav Oil & Gas Limited received ₦1.388 billion from 429 accounts. A total of ₦887.5 million was reportedly funneled into various other bank accounts.
The EFCC argued that the funds traced to the forfeited assets were not proceeds of legitimate business activities. It also noted that the mastermind behind the alleged crime has already been arraigned before a Federal High Court, with trial currently ongoing.
Justice Osiagor, satisfied with the EFCC’s submission and the lack of opposition from any interested parties, ruled in favour of the final forfeiture of all listed assets to the Federal Government.
In another development, Justice Osiagor on Thursday , July 10, 2025, ordered the interim forfeiture of a property in ljaiye Ojokoro, Lagos State linked to a couple, Emmanuel Chukwudi Chinyere and Ebere Vivien Chinyere, over alleged obtaining by false pretence.
The property is located at No. 5/7 Kasali Aremu Street, Abiok Bus Stop, Jankara ljaiye Ojokoro, Lagos State.
The Judge gave the order, following a motion ex parte filed and argued by the counsel to the EFCC, Abdulhamid .L.Tukur.
Moving the application for the interim forfeiture of the property, Tukur submitted that the Commission received a petition from one Sunday Nathanel Edi, Managing Director of a registered cosmetic business, alleging that he transferred the total sum of N189,500,000(One Hundred and Eighty-Nine Million, Five- Hundred Thousand Naira) to several bank accounts belonging to a couple, Emmanuel Chukwudi Chinyere and Ebere Vivien Chinyere, in 2023, to purchase five hectares of land within Owerri, Imo State, for him to develop as an estate.
A discreet enquiry conducted by the petitioner, however, revealed that they did not purchase the land, contrary to the agreement.
Efforts to get a refund, upon confirmation that they had diverted the money to their personal use, were unsuccessful.
Tukur, while moving the application, told the court that the property sought to be forfeited “is linked to criminality perpetrated against the petitioner and that it is reasonably suspected to be proceeds of crime.”
He, therefore, prayed the court to grant the application seeking an interim forfeiture of the property, which is reasonably suspected to be proceeds of unlawful activities, to the petitioner through the EFCC.
In his ruling, Justice Osiagor granted the application, and also directed the Commission to publish the interim order in a national newspaper for any interested party to show cause why the final order of forfeiture should not be made in favour of the Federal Government of Nigeria.
The Judge further adjourned the hearing of the motion for the final forfeiture.
