Court Orders Permanent Forfeiture of 52 Lekki Homes Worth Billions to FG

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A Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette houses located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, to the Federal Government.

Justice Alexandra Owoeye delivered the ruling after upholding an application filed by the Economic and Financial Crimes Commission (EFCC), which argued that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities.

The estate was recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.
The EFCC told the court that it had earlier secured an interim forfeiture order in August 2024 and complied with the court's directive by publishing the order in a national newspaper to allow interested parties challenge the forfeiture.

Although the respondents opposed the application, the court found serious contradictions in their affidavits. They initially claimed the 52 housing units were completed with proceeds from the sale of 29 other units valued at ₦1.9 billion, but later argued that several of the houses were never completed.

Justice Owoeye ruled that the conflicting claims made their entire defence unreliable and consequently rejected their affidavit.

The EFCC also informed the court that Ifeanyi Nweke is a fugitive who allegedly jumped administrative bail and failed to appear for arraignment in two separate criminal cases despite subsisting arrest warrants issued against him.

Having found sufficient grounds to believe the estate was linked to unlawful activities, the court granted the EFCC's application and ordered the permanent forfeiture of all 52 properties to the Federal Government.

Source/Credit: EFCC

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