Lekki property owner loses 52 houses to FG in Lagos

By Adebola Isimijola, Lagos

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 the state to the Federal Government after finding that the properties were reasonably suspected to be proceeds of unlawful activities.

Justice Alexandra Owoeye delivered the judgment on Wednesday, July 15, 2026, in respect of the properties located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lagos. The affected properties were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.

The Economic and Financial Crimes Commission (EFCC), in a statement made available over the weekend, said the order followed a Motion on Notice argued by its counsel, Franklin Ofoma, after the commission had earlier secured an interim forfeiture order on the properties in August 2024.

The EFCC said the court had directed it to publish the interim forfeiture order in a national newspaper to allow any interested party to show cause why the properties should not be permanently forfeited.

According to the commission, the respondents filed a counter-affidavit opposing the application but gave conflicting accounts of how the estate was financed. While they initially claimed the development was funded with proceeds from the sale of 29 terrace and maisonette units valued at N1.9 billion, they later alleged that some of the buildings were not completed, contradicting their earlier position that construction had been completed in 2020.

At the hearing, Ofoma urged the court to grant the application, arguing that the commission had complied with all conditions attached to the interim forfeiture order and had established reasonable grounds to suspect that the properties were proceeds of unlawful activities.

He also informed the court that the second respondent, Ifeanyi Nweke, had failed to appear for arraignment in two pending criminal cases despite existing warrants for his arrest and had jumped the administrative bail earlier granted by the commission.

In her ruling, Justice Owoeye held that the contradictions in the respondents’ evidence made their defence unreliable.

“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,” the judge ruled.

She further held that the respondents had failed to successfully challenge the EFCC’s application, adding that the commission had demonstrated reasonable grounds to suspect that the properties were proceeds of unlawful activities.

“Having resolved the sole issue in this application in favour of the applicants, I hold that this application has merit and ought to be granted. Accordingly, I grant the relief sought in this application as prayed,” Justice Owoeye declared.

The ruling paved the way for the final forfeiture of the 52 housing units to the Federal Government.