A Federal High Court in Lagos has ordered the final forfeiture of N178,966,938, multiple landed properties and vehicles linked to suspected unlawful activities to the Federal Government of Nigeria.
This is according to a statement by the Economic and Financial Crimes Commission (EFCC) posted on its official X account on Monday.
The forfeiture order follows investigations by the anti-graft agency into assets traced to an individual believed to have acquired them through proceeds of unlawful activities.
What EFCC said
According to the EFCC, the assets are reasonably suspected to be proceeds of unlawful activities and have been ordered forfeited to the Federal Government of Nigeria.
Justice C.J. Aneke of the Federal High Court sitting in Lagos granted the final forfeiture order on Monday, February 10, 2026, after considering a motion on notice filed by the Lagos Zonal Directorate 1 of the commission.
- “The EFCC counsel, Zeenat Atiku informed the court that the application was supported by an affidavit deposed to and signed by Isah Yusuf Nadabo, an operative of the EFCC, showing that the funds and properties were traced to Stanley Akaria Chinemerem and are reasonably suspected to be proceeds of unlawful activities,” the commission stated.
EFCC counsel, Zeenat Atiku, told the court that no individual or corporate entity came forward to contest the forfeiture despite being given adequate opportunity.
Backstory
According to reports, Stanley Akaria Chinemerem, accused of defrauding his employer, Godwin Uche Okearafor, a Lagos-based cosmetics entrepreneur, allegedly manipulated post-dated cheques issued by clients and diverted the proceeds into his personal accounts without authorisation.
- Investigations indicated that Chinemerem laundered the funds through multiple bank accounts, converted portions into digital assets, and used the proceeds to acquire high-value properties and vehicles.
- According to the commission, the court had earlier granted an interim forfeiture order on December 12, 2025, directing that the order be published in a national newspaper to allow any interested party to show cause why the assets should not be permanently forfeited.
- In compliance with the court’s directive, the interim forfeiture order was published in The Punch newspaper on January 8, 2026. The EFCC also confirmed that the respondent was personally served with the court documents.
However, the commission said no claim or objection was filed by any party within the stipulated period, prompting it to approach the court for a final forfeiture order.
More insights
Among the assets finally forfeited is a fully detached six-bedroom duplex built on approximately 722.332 square metres at Nnabuenyi Street, formerly described as AMORC, within the Onigbanko Royal Family Land, Abule Oshun, Amuwo Odofin Local Government Area of Lagos State.
- The court also ordered the forfeiture of two undeveloped parcels of land located at Onireke Town, opposite Ojo Barracks, Amuwo Odofin Local Government Area, measuring 667.070 square metres and another plot measuring 60 feet by 120 feet.
- In addition, two vehicles were forfeited to the Federal Government: a black 2012 Toyota Highlander Jeep with registration number LND 401JC and a red 2018 Toyota Venza with plate number FCT 998 JX.
Justice Aneke, after reviewing the application and supporting documents, held that the EFCC’s request had merit and consequently ordered the final forfeiture of the funds, properties and vehicles.
What you should know
The EFCC has secured several major forfeiture orders and large asset recoveries, showing the scale of its efforts to recover alleged proceeds of unlawful activities across Nigeria.
- In one of its largest asset recoveries, the commission reported that it seized a historic estate in Abuja containing 753 duplexes and other apartments linked to former Central Bank Governor Godwin Emefiele after a Federal High Court found the properties were reasonably suspected to have been acquired with proceeds of unlawful activities.
Justice Jude Onwuegbuzie granted the final forfeiture following an EFCC application when no party came forward to contest the ownership.
- The EFCC’s annual performance report also showed that in one year, it recovered N364.5 billion and $326.5 million alongside other foreign currencies and assets, including over 750 duplexes, several parcels of land, high‑value vehicles, cryptocurrency holdings and more, while securing 4,111 convictions across courts in Nigeria.
- Over a two‑year period, the commission said it recovered a total of N566 billion, $411 million and 1,502 properties from alleged proceeds of financial and economic crimes. Including hundreds of properties, vehicles and other non‑monetary assets, some of which have been reinvested into government programmes or allocated for public use.
The EFCC has also used public auctions to dispose of forfeited vehicles and other movable assets following final forfeiture orders, giving members of the public opportunities to purchase assets seized in criminal and civil forfeiture actions.
