Court hands FG 52 Lekki luxury homes in major EFCC asset recovery victory

The Federal High Court in Lagos has handed the Federal Government ownership of 52 luxury terrace and maisonette units in Lekki, delivering another significant victory for the Economic and Financial Crimes Commission (EFCC) in its aggressive campaign to recover assets suspected to have been acquired through illicit wealth.

In a judgment delivered on Wednesday, Justice Alexandra Owoeye ordered the final forfeiture of the high-value properties located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, after ruling that the EFCC had established reasonable grounds to believe they were proceeds of unlawful activities. The commission disclosed the judgment in a statement issued on Saturday by its spokesperson, Dele Oyewale.

The properties, recovered from Fielddreams Limited, Ifeanyi Nweke, and Amex Savings and Loans Limited, became the subject of forfeiture proceedings after investigations by the anti-graft agency allegedly linked them to unlawful financial activities.

EFCC counsel, Franklin Ofoma, urged the court to grant the final forfeiture order, arguing that the commission had fulfilled all legal requirements and that the respondents failed to provide credible evidence to rebut the allegations.

Justice Owoeye agreed with the commission’s position, holding that the affidavit filed by the respondents was riddled with material contradictions that undermined its credibility. She ruled that the court could not rely on conflicting versions of the respondents’ evidence and consequently struck out the affidavit.

With no credible opposition before the court, the judge held that the EFCC had successfully established its case and granted the application for the permanent forfeiture of the 52 housing units to the federal government.

The case originated in August 2024 when Justice Akintayo Aluko granted an interim forfeiture order following an ex parte application by the EFCC.

In line with statutory requirements, the commission published the order in a national newspaper, inviting anyone with an interest in the properties to appear before the court and explain why they should not be permanently forfeited.

The respondents subsequently opposed the application, claiming the estate was financed from the sale of 29 housing units worth N1.9 billion.

However, the EFCC argued that they later contradicted that claim by asserting that some of the houses were still under construction despite previously maintaining that the project had been completed in 2020 using proceeds from the earlier sales.

The commission also relied on a 31-paragraph affidavit deposed to by Afolabi Oladele, a litigation officer in its Legal Department. It further informed the court that Ifeanyi Nweke is facing criminal charges before two Lagos State High Courts but has failed to appear for arraignment.

According to the EFCC, two warrants have been issued for his arrest, while he also jumped the administrative bail earlier granted to him.

The ruling marks another major asset recovery milestone for the EFCC, coming barely a day after the Supreme Court affirmed the final forfeiture of luxury properties and more than $2 million linked to former Central Bank of Nigeria Governor Godwin Emefiele, reinforcing the agency’s expanding record of securing court-backed recoveries of assets suspected to be proceeds of corruption and financial crimes.