The Federal High Court sitting in the Ikoyi area of Lagos State has ordered the final forfeiture of 52 terrace and maisonette units located in the Lekki area of the state.
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 presiding judge, Justice Alexandra Owoeye, judge gave the order, following a Motion on Notice filed and argued by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) through its counsel, Franklin Ofoma.
A statement issued on Saturday by the EFCC said the commission had, on August 14, 2024, secured the interim forfeiture of the properties through an order granted by Justice Akintayo Aluko, following an ex parte application filed by the anti-graft agency through Ofoma.
The order was made in favour of one Dr. Kennedy Okonkwo, a real estate developer and Chief Executive Officer of Capital Gardens Limited.
In his ruling, Justice Aluko also 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.
Following the publication of the order, the respondents filed an affidavit to show cause why the court should not grant the final forfeiture of the properties.
Initially, in paragraphs 16 to 25 of their affidavit, the respondents stated that the funds used to develop the 52 terrace and maisonette units were derived from the sale of a portion of land acquired through the sale of 29 terrace and maisonette units valued at N1,900,000,000.
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However, Ofoma, while moving the application for the final forfeiture of the properties, informed the court that the EFCC had fully complied with the court’s order on the publication of the interim forfeiture.
He further told the court that the application was supported by a 31-paragraph affidavit deposed to by Afolabi Seyi Oladele, a litigation officer in the Legal Department of the EFCC.
According to him, the properties were reasonably suspected to be proceeds of unlawful activities, and he urged the court to grant the application for their final forfeiture.
He further informed the court that there were two subsisting warrants of arrest against the second respondent, adding that he had jumped the administrative bail earlier granted him by the EFCC over the alleged offences.
After listening to the submissions of both the applicant and the respondents, 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 first-third 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 judge added.
