A Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of 52 terrace and maisonette units located at Mercyville Estate, Covenant Way, off New Road, Ilasan, Lekki, to the Federal Government.

Justice Alexandra Owoeye delivered the judgment on Wednesday, following an application by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).

The properties were recovered from Fielddreams Limited, Ifeanyi Nweke and Amex Savings and Loans Limited.

The EFCC, through its counsel, Franklin Ofoma, had earlier secured an interim forfeiture order on August 14, 2024, before Justice Akintayo Aluko.

The court subsequently directed the anti-graft agency to publish the order in a national newspaper, inviting any interested parties to show cause why the properties should not be permanently forfeited.

Although the respondents filed a counter-affidavit challenging the forfeiture, the court found material inconsistencies in their explanations regarding the source of funds used to develop the estate.

The respondents initially claimed the development was financed with proceeds from the sale of 29 terrace and maisonette units valued at ₦1.9 billion.

They later changed their position, alleging that several purchasers had failed to complete payment for the properties, contradicting their earlier claim that the project had been completed in 2020 using the sale proceeds.

Arguing the application for final forfeiture, EFCC counsel Franklin Ofoma informed the court that the Commission had complied with all directives regarding publication of the interim forfeiture order.

He further submitted that the properties were reasonably suspected to be proceeds of unlawful activities.

Ofoma also told the court that the second respondent, Ifeanyi Nweke, is a fugitive facing criminal charges before two Lagos State High Courts and had failed to honour administrative bail granted by the EFCC.

He added that two subsisting warrants had been issued for Nweke's arrest.

In her ruling, Justice Owoeye held that the contradictions in the respondents' affidavit rendered their entire evidence unreliable.

"The court cannot pick and choose which of the evidence given by the respondents to believe. It must consequently reject the entire affidavit evidence," the judge ruled.

She consequently struck out the respondents' affidavit opposing the application, holding that there was effectively no valid opposition to the EFCC's motion.

Justice Owoeye further held that the Commission had established reasonable grounds to suspect that the properties were proceeds of unlawful activities and granted the application for final forfeiture.

The court therefore ordered that the 52 terrace and maisonette units be permanently forfeited to the Federal Government of Nigeria.