LAFIA – Justice M.O. Olajuwon of the Federal High Court sitting in Lafia, Nasarawa State, has ordered the final forfeiture of multi-million naira properties and cash belonging to Apostle Theophilus Oloche Ebonyi to the Federal Government.
The ruling, delivered on Wednesday, marks the conclusion of a high-profile investigation into a massive racketeering scheme orchestrated by Ebonyi, the General Overseer of Faith on the Rock Ministry International. The Economic and Financial Crimes Commission (EFCC) successfully argued that the assets were the proceeds of a sophisticated Ponzi scheme that defrauded unsuspecting Nigerians of over N1.3 billion.
The Phony Grant Scheme
Investigations revealed that Ebonyi, operating through his NGO, Theobarth Global Foundation, lured victims—primarily non-governmental organizations and individuals—with the promise of a $20 billion grant from the American-based Ford Foundation.
To access the “intervention project,” subscribers were allegedly coerced into paying for registration forms and clusters, with some victims paying as much as N1.8 million each. The Ford Foundation has since formally disclaimed any affiliation with Ebonyi or his foundation, confirming that the purported grant was entirely fictitious.
Forfeited Assets
The court ordered the permanent seizure of several high-value assets located across Nasarawa State, including:
- De Thinkers Home and Apartments: A 23-room hotel and event centre in Nyanya Gwandara.
- Educational Facilities: Theo International Academy Primary School in Nyanya Gwandara.
- Industrial Properties: A warehouse and sachet water factory in Koroduma, Karu LGA.
- Commercial Real Estate: Two office buildings located at One-man Village, Koroduma.
- Liquid Assets: Cash totaling N1,005,489.27 held in a First Bank account.
The Judgment
In the final ruling, Justice Olajuwon held that the EFCC, led by investigator Mary Ebute and counsel Ibrahim Buba, provided “sufficient materials” to establish that the assets were acquired through unlawful activities.
The judge noted that the Commission satisfied the legal requirements of Section 17(1) of the Advance Fee Fraud and Other Fraud Related Offences Act. According to the court, once a reasonable suspicion was established that the assets were proceeds of crime, the burden of proof shifted to the respondents to justify their source of wealth—a burden the court ruled they failed to discharge.
The EFCC’s evidence specifically highlighted a Keystone Bank account belonging to Theobarth Global Foundation as the primary conduit for laundering the proceeds of the scam into the now-forfeited real estate.
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