Court Orders Lagos Property Forfeiture Over N986m Diesel Fraud Allegation

A Federal High Court in Ikoyi, Lagos, presided over by Justice Dehinde Dipeolu, has issued an order for the interim forfeiture of a luxury property located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos. The order, delivered on Friday, August 1, 2025, comes amidst allegations that the property was acquired with proceeds from a N986 million fraudulent diesel transaction.

The Economic and Financial Crimes Commission (EFCC), represented by counsel C. C. Okezie, filed a motion ex-parte seeking to seize the property pending the determination of a motion for its final forfeiture. The application, made in accordance with Section 17 of the Advance Fee Fraud Act and Section 44(2)(b) of Nigeria’s Constitution, aims to preserve assets suspected to be tainted by criminal conduct until the case concludes.

According to the EFCC, investigations revealed that the funds used to purchase the property can be traced to a fraudulent scheme masterminded by Mrs. Hannah Ify Nwaguzor, Ajayi Edward Olushola, and their associates. The scheme targeted two companies—G3 Solid Farms & Agro Allied Industries and Bohr Energy Limited—defrauding them under the pretense of supplying Automotive Gas Oil (diesel). The companies, introduced to the suspects in May 2024 by one Irene Abidemi, transferred the sum of N986 million to Mozann Global Merchants Limited for the delivery of diesel. However, no product was delivered, and the funds were diverted.

Further EFCC investigations traced N500 million to Hola Jayu Nigeria Limited, from which a payment of N261 million was made to Orobosa Michael Ubogu towards the acquisition of the Park View Estate property. The commission maintained that the money used for the purchase is reasonably suspected to be the proceeds of unlawful activity.

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Justice Dipeolu, granting the EFCC’s request, described the interim forfeiture as a preventive measure crucial for safeguarding assets believed to be linked with criminal activity, pending the outcome of the case. The court has also mandated that notice of the forfeiture be published in a national newspaper, inviting any interested parties to appear within 14 days to show cause why the property should not be permanently forfeited to the Federal Government.

The case is expected to continue on September 2, 2025, when the court will hear the EFCC’s application for final forfeiture of the property.