A Federal High Court in Lagos has issued an interim forfeiture order for a property allegedly tied to a diesel supply fraud worth N986 million. The order was granted by Justice Dehinde Dipeolu following an application filed by the Economic and Financial Crimes Commission (EFCC).
The affected property, located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos, is believed to have been purchased with proceeds from a fraudulent diesel transaction.
Details of the Alleged Fraud
According to the EFCC’s counsel, Chineye Okezie, the case was initiated after the Commission received a petition from one Chukwulota Benneth Onuoha and two companies, G3 Solid Farms & Agro Allied Industries and Bohr Energy Ltd. The petition accused Hannah Ify Nwaguzor, Ajayi Edward Olushola, and others of defrauding them under the pretense of supplying Automotive Gas Oil (AGO).
In May 2024, Bohr Energy Ltd reportedly transferred over N986 million to Mozann Global Merchants Ltd based on representations made by the accused. However, the promised diesel was never delivered, and the funds were allegedly diverted.
Tracing the Funds
Investigators discovered that N500 million was funneled into the account of Hola Jayu Nigeria Ltd, and from there, N261 million was used to purchase the now-forfeited Lagos property. The EFCC argued that the funds used in acquiring the property are reasonably suspected to be proceeds of unlawful activity.
The Commission brought the application under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the 1999 Constitution. The goal is to preserve the asset pending the final forfeiture hearing.
Also Read: PPDC Launches $7,500 Budeshi Grant to Boost Grassroots Procurement Monitoring
Court’s Position on Forfeiture
In its argument, the EFCC cited a Supreme Court ruling that states that a conviction is not necessary before a property can be temporarily forfeited. The court only needs to be reasonably convinced that the asset in question is likely connected to criminal activity.
The affidavit supporting the motion was sworn by EFCC investigating officer Waziri Abdullahi, who stated that the property was not bought from any legitimate source of income.
Justice Dipeolu granted the interim forfeiture and directed the EFCC to publish the order in a national newspaper. This is to give any interested parties the opportunity to challenge the forfeiture within 14 days.
The court adjourned the matter to September 2, 2025, for the hearing of the motion for final forfeiture.
