The Federal High Court in Ikoyi, Lagos, ruled that a property located at 26, Tolu Road, Olodi Apapa, in Ajeromi-Ifelodun Local Government Area, must be permanently taken over by the Federal Government of Nigeria.
The court made this decision after hearing a request filed by the Economic and Financial Crimes Commission (EFCC) through its lawyer, Hannatu Kofarnaisa.
The court had earlier, in January 2025, ordered a temporary forfeiture of the property and asked that the decision be published in a national newspaper to allow any interested party to object.
However, during the hearing for the final forfeiture, Kofarnaisa told the court that no one had come forward within the 14-day window to challenge the action.
The application was backed by an affidavit filed by EFCC operative Gyal Maina Gapani.
The affidavit explained that the case began when Sterling Bank Plc submitted a petition to the EFCC on July 18, 2022.
According to the bank, a system error allowed customers to illegally move ₦295,916,201.02 into their own accounts without having the equivalent balance.
Further findings showed that one of the customers, Ojora Sulaimon Kehinde, took ₦89 million of the stolen money.
He later transferred a portion of it to his wife, Aminat Olatanwa Ojora, using her Sterling Bank account. The funds were used to buy the property that the court has now ordered to be forfeited.
Investigations revealed that Ojora also worked with his wife and brother, Muritala Sulaimon Kehinde, to hide the money trail.
Ojora’s wife transferred ₦17 million to another person, Chuksy Odozy Osazuwa, through a Zenith Bank account, to complete the property purchase.
Meanwhile, his brother Muritala acted as the front for signing the deed of assignment linked to the property.
After considering the facts and arguments, Justice Deinde Dipeolu agreed that the EFCC had made a strong case.
As a result, the property was permanently forfeited to the Federal Government, with Sterling Bank listed as the beneficiary.
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