Court Orders Final Forfeiture of 52 Lagos Housing Units to Federal Government
The Federal High Court sitting 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, Lagos, to the Federal Government.
Justice Alexandra Owoeye delivered the ruling on Wednesday, July 15, 2026, following a Motion on Notice filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).
The properties were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.
The EFCC, through its counsel, Franklin Ofoma, argued that the properties were reasonably suspected to be proceeds of unlawful activities and urged the court to grant a final forfeiture order.
The Commission had earlier secured an interim forfeiture of the properties on August 14, 2024, through an order granted by Justice Akintayo Aluko after an ex parte application filed by the EFCC.
Justice Aluko subsequently directed the Commission 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.
In their initial affidavit, the respondents claimed that funds used to develop the 52 housing units were generated from the sale of 29 terrace and maisonette units valued at N1.9 billion.
However, they later altered their position, alleging that some of the applicants failed to complete the housing units, a claim the court noted contradicted their earlier affidavit, in which they stated that construction and furnishing of the remaining units had been completed in 2020.
During the proceedings, Ofoma informed the court that the EFCC had fully complied with the publication order and supported its application with a 31-paragraph affidavit deposed to by Afolabi Seyi Oladele, a litigation officer with the Commission.
He further submitted that Ifeanyi Nweke, the second respondent, was a fugitive facing criminal charges and had failed to appear before two separate courts for arraignment.
According to the EFCC, Nweke also violated the conditions of an administrative bail earlier granted to him by the Commission and remains the subject of two subsisting warrants of arrest.
In her ruling, Justice Owoeye held that the respondents’ affidavit contained conflicting and contradictory evidence, making it unreliable.
The court consequently rejected the respondents’ affidavit and held that there was no credible opposition to the EFCC’s application for final forfeiture.
Justice Owoeye ruled that the EFCC had established reasonable grounds to suspect that the properties were proceeds of unlawful activities and was therefore entitled to the relief sought.
The court subsequently granted the application, ordering the final forfeiture of the 52 terrace and maisonette units to the Federal Government of Nigeria.
Court Orders Final Forfeiture of 52 Lagos Housing Units to Federal Government