Korede Abdullah in Lagos
A Federal High Court sitting in Lagos has ordered the final forfeiture of a warehouse and 54 containers in Ogun State, suspected to have been acquired through fraudulent means.
Justice Deinde Dipeolu made the order on Thursday, December 19, 2024, following a motion filed by the Economic and Financial Crimes Commission (EFCC).
The EFCC had informed the court that it reasonably suspected the properties to have been acquired with proceeds of unlawful activities.¹
The forfeited properties include a warehouse built on a 1.925-hectare land at KM 8 along Lagos-Ibadan Expressway, Magboro, Obafemi Owode Local Government Area of Ogun State, and 54 general-purpose steel containers.
Rotimi Oyedepo, lead counsel for the EFCC, argued that the court had the statutory powers to grant the reliefs being sought, citing Section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006.
He also stated that the properties were reasonably suspected to have been acquired with proceeds of unlawful activities.
Justice Dipeolu, after reading the affidavit in support of the motion and exhibits attached, granted the application, saying, “The application succeeds and same is accordingly granted.
“A final forfeiture order is hereby granted forfeiting to the Federal Government of Nigeria, properties contained in Schedule A herein which are reasonably suspected to have been acquired with proceeds of unlawful activities”.
The final forfeiture order is a significant milestone in the EFCC’s efforts to combat financial crimes and recover proceeds of unlawful activities.
The properties will now be transferred to the federal government, and may be repurposed to support national economic or security initiatives.
