Court Grants EFCC Interim Forfeiture of Lagos Property Linked To N986m Diesel Fraud

The Federal High Court sitting in Lagos has ordered the interim forfeiture of a high-end residential property allegedly acquired with proceeds of a fraudulent diesel transaction amounting to ?986 million.

Justice Dehinde Dipeolu granted the order following an ex-parte motion filed by the Economic and Financial Crimes Commission (EFCC), seeking to preserve the property located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos, pending the determination of a final forfeiture application.

According to the EFCC, the property was allegedly purchased using funds diverted from a diesel supply scam involving Mrs. Hannah Ify Nwaguzor, Ajayi Edward Olushola, and others.

EFCC counsel Chineye Okezie told the court that the Commission had received a petition from Prince Chukwulota Benneth Onuoha and two firms—G3 Solid Farms & Agro Allied Industries Ltd and Bohr Energy Ltd—detailing how the petitioners were allegedly defrauded in a deal to supply Automotive Gas Oil (AGO).

The petitioners claimed they were introduced to Nwaguzor and Olushola in May 2024 by one Irene Abidemi, who presented the duo as legitimate petroleum product dealers. On the strength of that introduction, Bohr Energy Ltd transferred ?986 million to Mozann Global Merchants Ltd on May 14 and 15, 2024. However, no diesel was delivered, and the funds were never refunded.

Subsequent investigations, according to an affidavit sworn by EFCC officer Waziri Abdullahi, revealed that ?500 million of the transferred funds was traced to Hola Jayu Nigeria Ltd, from where ?261 million was paid to one Orobosa Michael Ubogu toward the purchase of the forfeited property.

The Commission argued that the funds used to acquire the property were “reasonably suspected to be proceeds of unlawful activity,” thereby invoking Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the 1999 Constitution (as amended), to apply for interim forfeiture.

In her ruling, Justice Dipeolu ordered the EFCC to publish the interim forfeiture order in a national newspaper to enable any interested parties to come forward within 14 days and show cause why the property should not be permanently forfeited to the Federal Government.

The EFCC, in its written address, clarified that a conviction is not a prerequisite for forfeiture under the law, citing the Supreme Court’s ruling in Dame Patience Jonathan v. FRN. It argued that “the suspicion required is not one that leads to conviction but one that reasonably persuades the court that the property is likely to be proceeds of crime.”

The court adjourned the matter to September 2, 2025, for the hearing of the motion for final forfeiture.