Court Orders Forfeiture of 52 Lekki Housing Units - InsideBusiness - Business News in Nigeria
TheFederal High Court in Lagoshas ordered the final forfeiture of52 terrace and maisonette unitsin Lekki to the Federal Government after ruling that the properties were linked to suspected unlawful. . .
TheFederal High Court in Lagoshas ordered the final forfeiture of52 terrace and maisonette unitsin Lekki to the Federal Government after ruling that the properties were linked to suspected unlawful activities. JusticeAlexandra Owoeyedelivered the judgment on Wednesday while approving an application filed by theEconomic and Financial Crimes Commission (EFCC)Lagos Zonal Directorate 2. The EFCC announced theLekki property forfeiturein a statement released on Saturday by its spokesperson,Dele Oyewale. The commission said the properties are located atMercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, Lagos, and were recovered fromFielddreams Limited, Ifeanyi Nweke, and Amex Savings and Loans Limited. EFCC lawyerFranklin Ofomatold the court that investigations showed the properties were reasonably suspected to have been acquired through unlawful activities. He asked the court to grant permanent forfeiture to the Federal Government. The legal process began in August 2024 when the EFCC secured an interim forfeiture order. The court later directed the commission to publish the order in a national newspaper, allowing anyone with an interest in the properties to challenge the action. The respondents opposed the final forfeiture application, arguing that funds used to build the housing units came from the sale of 29 other properties worth₦1. 9 billion. However, the EFCC said their claims later became inconsistent, particularly regarding whether some units had been completed. Justice Owoeye rejected the respondents’ affidavit, stating that it contained major contradictions that affected its credibility. She ruled that the EFCC had provided enough grounds to suspect that the properties were proceeds of unlawful activities. The court consequently approved theLekki property forfeiture, transferring the 52 housing units to the Federal Government. The decision follows other recent asset recovery victories involving properties and funds connected to high-profile individuals, as the EFCC continues efforts to recover assets suspected to have been obtained through illegal means. Do these recent forfeiture decisions signal stronger enforcement of asset recovery laws in Nigeria?Post Views:95