Justice Dehinde Dipolu of the Federal High Court, Lagos, has ordered the interim forfeiture of a Lagos property linked to a N986 million diesel fraud.
The order affects a property located at No. 29, Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos, over its alleged connection to a fraudulent diesel transaction.
The ruling followed an ex parte application filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, Chinese Okezie.
While moving the application, Okezie informed the court that the property was allegedly acquired with proceeds from the fraudulent diesel deal involving Mrs. Hannah Ify Nwaguzor, Ajayi Edward Olushola, and others.
According to the EFCC, a petition was received from Prince Chukwulota Bennett Onuoha and two companies—G3 Solid Farm & Agro Allied Industries and Bohr Energy Ltd—accusing the suspects of defrauding them under the pretext of supplying Automotive Gas Oil (AGO) valued at N986 million.
The agency said the petitioners were introduced to Nwaguzor and Olushola in May 2024 by one Irene Abidemi.
Based on representations made by the duo, Bohr Energy Ltd reportedly transferred the funds to Mozann Global Merchants Ltd on May 14 and 15, 2024.
However, the diesel was never delivered, and the funds were allegedly diverted.
EFCC investigations revealed that N500 million was funneled to Hola Jayu Nigeria Ltd, from which N261 million was paid to Orobosa Michel Ubogu for the purchase of the now-forfeited property.
The EFCC asserted that the funds used to purchase the property were reasonably suspected to be proceeds of unlawful activity, in violation of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The commission’s application, brought under Section 17 of the said Act and Section 44(2)(b) of the 1999 Constitution (as amended), sought to preserve the property pending a motion for its final forfeiture.
In granting the request, Justice Dipolu also directed the EFCC to publish the interim forfeiture order in a national newspaper, inviting any interested parties to appear before the court within 14 days to show cause why the property should not be permanently forfeited to the Federal Government.
The matter has been adjourned to September 2, 2025, for hearing on the motion for final forfeiture.