Court Orders Permanent Forfeiture of 52 Recovered Lekki Properties to Federal Government
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A major anti-corruption push reaches its climax as a Federal High Court rejects conflicting developer statements, officially seizing a multi-billion naira estate in Lagos.
A Federal High Court in Lagos has ordered the final forfeiture of 52 terrace and maisonette housing units located in the highbrow Lekki area to the Federal Government. Delivering the judgment, Justice Alexandra Owoeye ruled that the properties, situated at Mercyville Estate in Ilasan, Lagos, were established to be the proceeds of unlawful activities.
The assets were successfully recovered following an intensive investigation by the Economic and Financial Crimes Commission (EFCC) involving Fielddreams Limited, Amex Savings and Loans Limited, and developer Ifeanyi Nweke—who is currently designated a fugitive with active arrest warrants in separate criminal cases.
The court completely rejected the respondents' counter-affidavits due to major internal contradictions regarding how the multi-billion naira estate was funded.
The developers initially swore that building construction was financed through previous sales totaling ₦1.9 billion and completed in 2020, but later claimed in subsequent hearings that the structures were still unfinished.
Because the court rejected the conflicting evidence, the EFCC's asset recovery motion faced no valid legal opposition, sealing the permanent seizure of the entire luxury development.
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