By Peace Erewunmi

A Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette housing units in the Lekki area of Lagos State to the Federal Government after ruling that the properties were reasonably suspected to be proceeds of unlawful activities.

The judgment was delivered by Justice Alexander Owoeye following an application filed by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency said the properties, located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.

The court noted that the EFCC had earlier obtained an interim forfeiture order and published notices inviting any interested parties to show cause why the properties should not be permanently forfeited. Although the respondents challenged the application, the court found material contradictions in their explanations regarding how the estate was financed.

Justice Owoeye held that the inconsistencies in the respondents’ affidavit weakened their defence, leaving no credible basis to oppose the EFCC’s application. Consequently, the court granted the commission’s request for final forfeiture of the properties to the Federal Government.

The ruling marks a significant milestone in the EFCC’s asset recovery efforts and reinforces the agency’s campaign against corruption and illicit wealth. The commission has maintained that recovering assets suspected to be proceeds of crime is essential to promoting accountability and protecting public resources.