Court orders interim forfeiture of Lagos property linked to N986m diesel fraud

The Federal High Court in Ikoyi, Lagos, has ordered the interim forfeiture of a property located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos, over its alleged connection to a diesel supply fraud valued at N986 million.

Justice Dehinde Dipeolu granted the order following a motion ex parte filed by counsel to the Economic and Financial Crimes Commission (EFCC), C.C. Okezie. The court directive was disclosed in a statement issued by the EFCC on Monday.

According to the anti-graft agency, the application was made under Section 17 of the EFCC Act and Section 44(2)(b) of the 1999 Constitution, seeking to preserve the asset pending the determination of a motion for final forfeiture.

The EFCC stated that the property was allegedly acquired using proceeds from a fraudulent transaction involving the sale of Automotive Gas Oil (AGO). Suspects named in the case include Mrs. Hannah Ify Nwaguzor, Ajayi Edward Olushola, and others.

“The Commission received a petition from Prince Chukwulota Benneth Onuoha and two companies—G3 Solid Farms & Agro Allied Industries and Bohr Energy Limited—alleging that they were defrauded of N986 million by the suspects under the pretense of supplying diesel,” the statement said.

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The petitioners, through an introduction by one Irene Abidemi, engaged Nwaguzor and Olushola in May 2024. Subsequently, Bohr Energy Limited made two payments to Mozann Global Merchants Limited on May 14 and 15, 2024, for the supposed supply. However, no delivery was made, and the funds were allegedly diverted.

EFCC investigators traced N500 million from the diverted sum to Hola Jayu Nigeria Limited. Out of that amount, N261 million was purportedly paid to Orobosa Michael Ubogu for the purchase of the property now under court order.

Okezie argued that the funds used to acquire the property were suspected to be proceeds of criminal activity. She noted that the property was not purchased from a legitimate income source and emphasized that the interim forfeiture was a necessary preventive step.

The application was supported by an affidavit sworn by EFCC operative Waziri Abdullahi. In her written address, Okezie urged the court to grant the order in the interest of justice.

Justice Dipeolu granted the request and also directed that the interim forfeiture order be published in a national newspaper to invite any interested party to show cause within 14 days why the property should not be permanently forfeited to the Federal Government.

The case was adjourned to September 2, 2025, for the hearing of the motion for final forfeiture.