Court Orders Final Forfeiture of Seven Properties Linked to Ex-Banker in Lagos

Justice Dehinde Dipeolu of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, April 10, 2025, ordered the final forfeiture of seven properties linked to one Muiz Tijani Adeyinka, a former staff of First Bank Plc.

The properties are: Plot 9, Block 28 Itunu City, Veritas Homes & Properties Ltd., Aiyetoro, Epe Lagos State; a three-bedroom flat described as Block A, Floor 6, Flat 2 (Block A/6/2) Le Moriah Residences Estate, Off Kusenla Road, Ikate Ancient City, Lekki Penninsula, Eti-Osa LGA, Lagos State; a parcel of land known as Block L1, Plot 13, Amen Estate, Phase Ill Extension, Abomiti Zone, Lekki/Epe Express Way Epe LGA, Lagos State; a parcel of land known as Block 3, Plot 13, Arizon Estate , within Idera Scheme Allocation via Eleko Junction Ibeju-Lekki LGA; one plot of Land within Arizone Estate, Idera Scheme,lbeju-Lekki LGA and one plot of land within Itunu Residential Aiyetoro,
Ibeju-Lekki LGA.

Others are: a parcel of land known as Plot 7, Block 4 Itunu City, Veritas Homes & Properties Ltd, Aiyetoro Epe LGA, Lagos; a parcel of land known as Plot 1, Ido Gwari 2 Extension, within Ochacho Real Homes, Ido-Gwari 2 Extension, LifeCamp, Abuja and a parcel of land known as Block Q, Plot 25, Tiara by Amen City Limited, Along Lekki/Epe Express Way, Yeguda Resettlement Scheme, Epe Lagos State.

The judge gave the order, following a motion on notice filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi, Lagos through its lawyer, Zeenat Atiku.

Justice Dipeolu had earlier ordered the interim forfeiture of the properties and also ordered the publication of the said order in a national newspaper for any interested parties to show why the properties should not be finally forfeited to the Federal Government.

Moving the application for the final forfeiture on Thursday, Atiku told the court that “no one showed cause within the 14 days window granted after the publication.”

Atiku also stated that the application was supported with an affidavit deposed to by Isah Yusuf Nadabo, an operative of the EFCC.

In the affidavit, Nadabo told the court that Tijani worked at the settlement office of the bank and that he had the capacity to carry out some inalienable access available only to the office by virtue of his office.

He stated further in the affidavit that “He, therefore, carried out illegal, unauthorised and fraudulent activities against First Bank Nigeria Plc.

“Investigation has thus far revealed and traced the sum of N35billion (Thirty Five Billion Naira) benefitted by Muiz Tijani Adeyinka and his cronies. “

Atiku, therefore, told the court that the properties traced to Muiz were reasonably suspected to have been acquired with proceeds of unlawful activities.

After listening to the EFCC’s counsel, Justice Dipeolu held that he found merit in the argument of the applicant and ordered the final forfeiture of the properties to the Federal Government of Nigeria.

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