Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
The Economic and Financial Crimes Commission (EFCC), Ilorin Zonal Directorate, has secured an interim forfeiture order on a lounge and a four-bedroom bungalow located in Ado-Ekiti, Ekiti State, following allegations that the properties were acquired with proceeds of a N1.98 billion fraud. Justice Abimbola Awogboro of the Federal High Court sitting in Ilorin granted the order on Tuesday, May 26, 2026, after the EFCC argued that the assets were suspected to be proceeds of unlawful activity and therefore required preservation pending the conclusion of investigation. The court held that the anti-graft agency had “fulfilled all the necessary legal requirements” for the grant of the application.
The interim forfeited properties are Town Tavern Lounge, located at No. 1, Ikere Road, off Florence Court School, Ado-Ekiti, and a four-bedroom bungalow located along Florence Court, Irewolede Estate, Ado-Ekiti. According to the EFCC, the properties are linked to Olorunbukunmi Taiwo, a 43-year-old man who allegedly defrauded Lady Anazia Colina Kenechukwu of N1,980,000,000 (One Billion, Nine Hundred and Eighty Million Naira). The petitioner alleged that Taiwo approached her with a claim that he had secured a road construction contract from the Delta State Oil Producing Areas Development Commission (DESOPADEC) and requested her to finance the project. After the funds were transferred, the suspect reportedly stopped answering her calls and refused to refund the money.
Moving the application on Monday, May 25, 2026, counsel to the EFCC, Cosmas Ugwu, urged the court to grant the interim attachment of the properties. Justice Awogboro, in her ruling, found merit in the application and granted the order. An interim forfeiture order is a temporary legal measure that allows authorities to seize properties suspected to be proceeds of crime pending the conclusion of investigations or further court proceedings. The order means the assets are now under temporary court control and cannot be sold, transferred, or tampered with until the substantive case is determined. The Ilorin Zonal Directorate of the EFCC has continued its investigative activities, and the forfeiture order is expected to pave the way for further legal proceedings.
The case has drawn attention to the growing trend of fraudsters using counterfeit government contracts to attract investment. Advance fee fraud, cybercrime, money laundering and property acquisition through illicit funds have continued to feature prominently in the commission’s investigations and prosecutions. The EFCC has urged members of the public to remain vigilant and report suspicious financial dealings to relevant authorities. As the investigation continues, no formal charges have yet been filed against Taiwo. The final decision on the forfeiture of the properties will be made by the court at the end of proceedings.
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