Court has ordered the interim forfeiture of Lagos mansion over alleged N986 million diesel fraud.
In a major development in an ongoing fraud investigation, the Federal High Court sitting in Ikoyi, Lagos, has ordered the interim forfeiture of a luxury property situated at No. 29 Oyindamola Shogbesan Street, Park View Estate, Ago Palace Way, Lagos.
The court ruling, delivered by Justice Dehinde Dipeolu, follows a motion ex parte filed by the Economic and Financial Crimes Commission (EFCC), which alleged that the property was acquired using proceeds from a fraudulent diesel supply scheme worth N986 million.
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Fraud Allegations and EFCC Investigation
According to a statement issued by the EFCC on Monday, the order was secured under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act and Section 44(2)(b) of the 1999 Constitution (as amended).
Counsel to the EFCC, C.C. Okezie, told the court that the property in question was purchased with funds allegedly diverted by Mrs. Hannah Ify Nwaguzor, Ajayi Edward Olushola, and other unnamed associates. The suspects are accused of defrauding two companies—G3 Solid Farms & Agro Allied Industries and Bohr Energy Limited under the pretext of supplying Automotive Gas Oil (AGO), commonly known as diesel.
In May 2024, Bohr Energy reportedly transferred the sum of N986 million to Mozann Global Merchants Limited, based on representations made by the accused. However, no diesel was delivered, and the funds were allegedly misappropriated.
EFCC investigations revealed that N500 million from the transaction was funneled into Hola Jayu Nigeria Limited, and N261 million was later paid to Orobosa Michael Ubogu for the acquisition of the Park View Estate property.
“The said property was acquired with proceeds of the alleged fraud and not from any legitimate source of income,” the EFCC stated.
The anti-graft agency supported its claims with an affidavit deposed to by Waziri Abdullahi, one of its investigating officers.
Court’s Order
Justice Dipeolu, after reviewing the EFCC’s submission, granted the interim forfeiture order and directed that the notice be published in a national newspaper. This is to invite any interested party to show cause within 14 days why the property should not be permanently forfeited to the Federal Government.
The matter has been adjourned to September 2, 2025, for the hearing of the motion for final forfeiture.
