Court Orders Interim Forfeiture of Lagos Property Linked to N986m Diesel Fraud
Justice Dehinde Dipeolu of 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 link to a diesel supply fraud involving N986 million.
The order followed a motion ex-parte filed by the Economic and Financial Crimes Commission (EFCC), represented by counsel C.C. Okezie, in accordance with Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act and Section 44(2)(b) of the 1999 Constitution (as amended).
According to the EFCC, the property was allegedly acquired with proceeds from a fraudulent transaction involving the supply of Automotive Gas Oil (AGO). The suspects named in the investigation 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 — accusing the suspects of defrauding them under the pretext of supplying AGO worth N986 million.
The petition stated that Bohr Energy Limited transferred the funds to Mozann Global Merchants Limited on May 14 and 15, 2024, based on the suspects' representations. However, no diesel was delivered, and the funds were allegedly diverted.
Investigations revealed that N500 million was traced to Hola Jayu Nigeria Limited, with N261 million allegedly paid to Orobosa Michael Ubogu for the purchase of the disputed property. The EFCC contends that the funds used for the acquisition are suspected to be proceeds of unlawful activity.
In her submission, Okezie described the interim forfeiture as a necessary step to preserve suspected assets acquired through illicit means, pending the determination of the motion for final forfeiture.
Justice Dipeolu granted the application and ordered the publication of the interim forfeiture in a national newspaper, inviting interested parties to appear in court within 14 days to show cause why the property should not be permanently forfeited to the Federal Government.
The case was adjourned to September 2, 2025, for hearing on the motion for final forfeiture.
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