The Ilorin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured an interim forfeiture order over two properties in Ado-Ekiti linked to an alleged ₦1.98bn fraud case.
Key Highlights:
Justice Abimbola Awogboro of the Federal High Court, Ilorin, granted the order after holding that the EFCC established sufficient grounds for the temporary preservation of the assets, pending the conclusion of investigation and possible prosecution.
The properties affected are the Town Tavern Lounge at No. 1 Ikere Road, off Florence Court School, and a four-bedroom bungalow located at Irewolede Estate, Florence Court area, Ado-Ekiti.
Read Also:
- Court adjourns EFCC’s asset forfeiture case against Sylva to July 16
- EFCC arraigns 3 suspects over alleged N42 contract fraud in Maiduguri
- EFCC arraigns man over alleged N3.5m job scam in Gombe
Court filings linked the assets to Olorunbukunmi Taiwo, 43, who is accused of defrauding one Lady Anazia Colina Kenechukwu of about ₦1.98bn.
The EFCC told the court that the properties were either acquired with proceeds of unlawful activity or traced to funds suspected to be proceeds of fraud.
The order means the assets are now under temporary court control and cannot be sold, transferred, or tampered with until the determination of the substantive case.
An interim forfeiture order is a preservation measure and does not amount to a conviction.
It is aimed at maintaining the status of suspected proceeds of crime pending trial.
The EFCC is expected to continue investigations and may file formal charges based on its findings.
The final decision on the fate of the properties will be made by the court at the end of proceedings.
