Court Orders Forfeiture of Park View Estate Property Linked to N986m Diesel Fraud

A Federal High Court in Lagos has ordered the interim forfeiture of a property in Park View Estate, linked to an alleged N986 million diesel fraud.

The Federal High Court sitting 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 worth N986,000,000.

Justice Dehinde Dipeolu granted the interim order, following a motion ex parte filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, C.C. Okezie, as disclosed in a statement issued by the Commission on Monday.

EFCC Allegations

According to the statement, the EFCC brought the application pursuant to Section 17 of its Act and Section 44(2)(b) of the 1999 Constitution (as amended) to preserve the asset pending the hearing of a motion for final forfeiture.

Okezie told the court that the property was allegedly acquired with funds from a fraudulent diesel transaction involving 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 the suspects defrauded them under the guise of supplying Automotive Gas Oil (AGO) worth N986 million,” the EFCC said.

DON’T MISS: NNPC Boss Allegedly Abducted, Forced to Resign by EFCC and SSS Officials in Secret Abuja Operation

According to the EFCC, in May 2024, the petitioners were introduced to Nwaguzor and her associate Olushola by one Irene Abidemi. Based on this, Bohr Energy Limited transferred nearly N986 million to Mozann Global Merchants Limited on May 14 and 15.

“However, no diesel was delivered, as the funds were allegedly diverted,” the Commission noted.

Further investigations revealed that N500 million was traced to Hola Jayu Nigeria Limited, from which N261 million was allegedly used by Orobosa Michael Ubogu to purchase the contested property.

EFCC’s lawyer argued that the funds used to buy the property were reasonably suspected to be proceeds of unlawful activity.

“The said property, described in Schedule A of the application, was acquired with proceeds of the alleged fraud and not from any legitimate source of income,” Okezie added.

The application was supported by an affidavit sworn to by Waziri Abdullahi, an EFCC investigating officer. In her written address, Okezie emphasized that the interim forfeiture was a “preventive measure to safeguard suspected proceeds of crime.” She urged the court to grant the order “in the interest of justice.”

Court Ruling

After hearing the arguments, Justice Dipeolu granted the interim forfeiture of the property as requested by the EFCC.

The court further ordered the publication of the interim order in a national newspaper, inviting interested parties 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.