Court orders final forfeiture of seven properties linked to ex-banker in Lagos

Lagos, Nigeria – April 11, 2025 – In a landmark decision, Justice Dehinde Dipeolu of the Federal High Court in Ikoyi, Lagos, permanently seized seven properties.

Muiz Tijani Adeyinka, a former employee of First Bank Plc, is therefore connected to these properties.

Furthermore, investigations have revealed substantial ties between him and various assets.

Consequently, the Economic and Financial Crimes Commission (EFCC) filed a motion, alleging that he illegally acquired the assets.

The forfeited properties, scattered across Lagos and Abuja, include a three-bedroom flat in Lekki, multiple plots of land in Lekki/Epe, and holdings in Itunu City and Arizon Estates.

Authorities argued that these assets were purchased with fraudulent funds. Consequently, the court took decisive action to rectify the situation.

Earlier, the EFCC secured an interim forfeiture order and published a public notice inviting objections.

However, as prosecutor Zeenat Atiku confirmed, no one contested the seizure within the 14-day window.

This lack of opposition strengthened the case for permanent forfeiture.

According to investigator Isah Yusuf Nadabo, Adeyinka abused his role at the bank’s settlement office to orchestrate a N35 billion ($91 million) fraud.

The court affidavit detailed how he and accomplices siphoned funds, using the money to acquire the properties now forfeited.

After examining the evidence, Justice Dipeolu ruled the assets were clearly crime proceeds, ordering their transfer to the federal government.

This verdict highlights the EFCC’s relentless pursuit of justice and its crackdown on corruption.

The case reflects Nigeria’s broader fight against financial crimes, sending a strong message to fraudsters.

By reclaiming illicit wealth, authorities aim to deter future misconduct and restore public trust.

Moving forward, it remains unclear whether Adeyinka or other parties will challenge the forfeiture.

Meanwhile, the EFCC urges citizens to report suspicious activities, reinforcing that collective vigilance is key to defeating corruption.

As Nigeria continues its anti-graft campaign, this ruling sets a precedent for holding offenders accountable.

The EFCC remains steadfast in its mission. Consequently, it actively ensures that stolen assets are recovered and justice prevails.

Ultimately, the case underscores the importance of transparency and accountability in both public and private sectors.

With each successful forfeiture, the nation takes another step toward eradicating financial crimes and fostering economic integrity.

The public has welcomed the court’s decision, viewing it as a victory against impunity.

As legal proceedings conclude, the focus shifts to preventing similar crimes and safeguarding national resources for future generations.

This judgment not only serves justice but also reinforces the rule of law, proving that no one is above accountability.

The EFCC’s diligence in this case exemplifies its commitment to a corruption-free Nigeria.

Looking ahead, the commission vows to intensify its efforts, leveraging legal frameworks and public support to dismantle fraudulent networks.

For now, the forfeiture stands as a testament to the power of persistence in the fight for justice.

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