JUSTICE Alexandra Owoeye of the Federal High Court in Ikoyi has ordered the permanent forfeiture of 52 terrace and maisonette units in the Lekki area of Lagos, following allegations that the properties were proceeds of unlawful activities.
The properties, located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lagos, were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.
The judge gave the order on Wednesday, 15 July 2026, following a Motion on Notice filed and argued by the Economic and Financial Crimes Commission (EFCC) through its counsel, Franklin Ofoma.
Interim Forfeiture Granted in 2024
The Commission had, on 14 August 2024, secured the interim forfeiture of the properties through an order granted by Justice Akintayo Aluko, following an ex parte application filed by the EFCC. The order was made in favour of Dr Kennedy Okonkwo, a real estate developer and Chief Executive Officer of Capital Gardens Limited.
In his ruling, Justice Aluko directed the Commission to publish the interim forfeiture order in a national newspaper, inviting any interested party to show cause why the properties should not be finally forfeited to the Federal Government of Nigeria.
Contradictory Affidavits from Respondents
Following publication of the order, the respondents filed an affidavit to show cause why the court should not grant final forfeiture. Initially, in paragraphs 16 to 25 of their affidavit, the respondents stated that the funds used to develop the properties were derived from the sale of a portion of land acquired through the sale of 29 terrace and maisonette units valued at ₦1.9 billion.
However, they subsequently made a U-turn, accusing the 3rd to 19th applicants of failing to complete the various units. This contradicted their earlier evidence in which they had stated that they used the proceeds from sale to complete furnishing and interior decoration of remaining units, and that construction had been completed in 2020.
EFCC Arguments
At Wednesday’s proceedings, Ofoma informed the court that the Commission had fully complied with the court’s order regarding publication of the interim forfeiture. He told the court that the application was supported by a 31-paragraph affidavit deposed to by Afolabi Seyi Oladele, a litigation officer in the EFCC’s Legal Department.
According to him, the properties were reasonably suspected to be proceeds of unlawful activities, and he urged the court to grant final forfeiture.
Ofoma further submitted that the second respondent, Nweke, is a criminal fugitive who “has refused to appear before Justice R.A. Oshodi and Justice Okunuga in Charge No. ID/25771C/2025 and Charge No. ID/25769C/2025 for his arraignment and to defend the charges if he believes that he did not commit any of the offences contained in the charges against him.”
He informed the court that there were two subsisting warrants of arrest against the second respondent, adding that he had jumped administrative bail earlier granted by the Commission.
Court’s Ruling
After listening to submissions from both parties, Justice Owoeye held that: “Premised on the foregoing position of the law, I hold that since this court cannot pick and choose which of the evidence given by Respondents to believe, it must consequently reject the entire affidavit evidence placed before it by the 1st-3rd Respondents.”
“Accordingly, I reject the 1st-3rd Respondents’ Affidavit to Show Cause/Counter-Affidavit to the Applicant/Respondent’s Motion on Notice for Final Forfeiture filed on the 9th of February, 2026, but deemed properly filed on the 28th of April, 2026. The consequence is that there is no opposition to the Motion filed by the 1st and 2nd Applicants for the grant of an order of final forfeiture.”
The judge further held that “having demonstrated grounds for reasonable suspicion that the properties in question are the proceeds of unlawful activities, the applicants are entitled to the reliefs sought in this application.”
Final Order Granted
In the final analysis, the court held that: “Having resolved the sole issue in this application in favour of the applicants, I hold that this application has merit and ought to be granted. Accordingly, I grant the relief sought in this application as prayed.”
The ruling brings to a close a legal battle that began nearly two years ago, with the 52 luxury housing units now permanently forfeited to the Federal Government.
