A Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette units in Lekki, over their suspected link to proceeds of unlawful activities.
The ruling was delivered on Wednesday, July 15, 2026, by Justice Alexandra Owoeye, following an application filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).
The properties, located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, were traced to Fielddreams Limited, Ifeanyi Nweke, and Amex Savings and Loans Limited.
The EFCC had earlier secured an interim forfeiture order on August 14, 2024, through Justice Akintayo Aluko, after approaching the court via an ex parte application.
The court subsequently directed the Commission to publish the order in a national newspaper, inviting interested parties to show cause why the assets should not be permanently forfeited to the Federal Government.
In response, the affected parties filed affidavits opposing the forfeiture.
The respondents initially claimed that the development of the 52 housing units was funded through proceeds from the sale of 29 units valued at ₦1.9 billion.
However, they later changed their position, alleging that some of the units were not completed—contradicting their earlier assertion that construction had been completed in 2020 and that funds were used for finishing and interior decoration.
EFCC counsel, Franklin Ofoma, told the court that the Commission had complied with all legal requirements, including the publication of the interim forfeiture notice.
He maintained that the properties were reasonably suspected to be proceeds of unlawful activities and urged the court to grant final forfeiture.
Ofoma also informed the court that one of the respondents, Ifeanyi Nweke, is a fugitive who has failed to appear for arraignment in pending criminal cases and had allegedly absconded after being granted administrative bail.
In her ruling, Justice Owoeye found the respondents’ affidavit evidence to be inconsistent and unreliable.
She held that the contradictions in their submissions made it impossible for the court to rely on any part of their defence, leading to its outright rejection.
With no credible opposition before it, the court resolved the matter in favour of the EFCC.
The court concluded that the EFCC had established reasonable grounds to suspect that the properties were proceeds of unlawful activities.
Accordingly, Justice Owoeye granted the application and ordered the final forfeiture of the 52 housing units to the Federal Government of Nigeria.
