Justice Dehinde Dipeolu of the Federal High Court in Ikoyi, Lagos, on Friday, August 1, 2025, ordered the interim forfeiture of a high-end property located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, in connection with an alleged ₦986 million diesel supply fraud.
The order follows a motion ex parte filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel C.C. Okezie, pursuant to Section 17 of the EFCC Act and Section 44(2)(b) of the 1999 Constitution (as amended).
Fraudulently Funded Property Acquisition
In court, Okezie alleged that the luxury property was purchased with funds traced to fraudulent transactions involving Mrs. Hannah Ify Nwaguzor, Ajayi Edward Olushola, and several others.
The EFCC investigation, supported by an affidavit from its operative Waziri Abdullahi, began after receiving a petition from Prince Chukwulota Benneth Onuoha, along with G3 Solid Farms & Agro Allied Industries and Bohr Energy Limited.
The petitioners claimed that in May 2024, they were introduced to the suspects through one Irene Abidemi for the purpose of purchasing Automotive Gas Oil (AGO). Following this, Bohr Energy Limited transferred a total of ₦986 million to Mozann Global Merchants Limited in anticipation of the diesel delivery.
However, no product was delivered, and investigations revealed that the funds were diverted for personal use.
Funds Traced to Property Purchase
Further tracking of the illicit funds showed that ₦500 million was funneled into Hola Jayu Nigeria Limited, with ₦261 million allegedly paid to one Orobosa Michael Ubogu for the acquisition of the said property.
“The said property... was acquired with proceeds of the alleged fraud and not from any legitimate source of income,” the EFCC’s motion read.
Okezie emphasized in a written address that the interim forfeiture is a preventive legal measure to safeguard suspected proceeds of crime, and urged the court to grant the application in the interest of justice.
Court Grants Interim Forfeiture
After hearing the EFCC’s submissions, Justice Dipeolu granted the interim forfeiture order. The Judge also directed the publication of the order in a national newspaper, inviting interested parties to appear within 14 days to show cause why the property should not be permanently forfeited to the Federal Government.
The case has been adjourned to September 2, 2025, for the hearing on the motion for final forfeiture.
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