The Federal High Court in Lagos ordered the final forfeiture of 52 terrace and maisonette units in the Lekki area of the state to the federal government after ruling that the properties were proceeds of unlawful activities.
judge Alexandra Owoeye delivered the ruling while granting an application filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).
the commission said the properties located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, Lagos were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.
The latest ruling brings to a close proceeding that began in August 2024, when the EFCC secured an interim forfeiture order over the properties from another judge Akintayo Aluko following an ex parte application.
As required in such proceedings, the court directed the commission to publish the interim forfeiture order in a national newspaper, inviting anyone with an interest in the properties to appear before the court and show cause why they should not be permanently forfeited to the federal government.
following the publication, the respondents challenged the application by filing an affidavit opposing the final forfeiture.
According to the EFCC, the respondents initially stated that the funds used to develop the 52 terrace and maisonette units came from the sale of 29 other housing units valued at N1.9 billion.
The commission, however, argued that they later contradicted that position by alleging that some of the housing units had not been completed, despite earlier claiming that construction had been completed in 2020 and financed with proceeds from the earlier sales.
