A Federal High Court sitting in Lagos has ordered the interim forfeiture of a luxury property in Isolo to the Federal Government over its alleged link to a ₦986 million diesel supply fraud.
Justice Deinde Dipeolu granted the order following a motion ex-parte filed by the Economic and Financial Crimes Commission (EFCC).
The forfeited property, located at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Isolo, was allegedly purchased with funds diverted from a fraudulent diesel deal involving Hannah Ify Nwaguzor, her associate Ajayi Edward Olushola, and others.
According to EFCC counsel Chinenye Okezie, the Commission received a petition from Prince Chukwulota Benneth Onuoha and two companies G3 Solid Farms & Agro Allied Industries and Bohr Energy Ltd alleging that the suspects collected ₦986 million for Automotive Gas Oil (AGO) but failed to deliver.
Investigations revealed that ₦500 million from the payment was transferred to Hola Jayu Nigeria Ltd, from which ₦261 million was paid to Orobosa Michael Ubogu for the property purchase.
The EFCC maintained that the funds were “reasonably suspected” to be proceeds of unlawful activity, breaching the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Justice Dipeolu ordered the EFCC to publish the interim forfeiture in a national newspaper, inviting any interested parties to show cause within 14 days why the property should not be permanently forfeited.
The matter is adjourned to September 2, 2025, for hearing on the motion for final forfeiture