Court orders interim forfeiture of lounge, bungalow over alleged N1.98bn fraud

A federal high court sitting in Ilorin has granted an interim forfeiture order on a lounge and a four-bedroom bungalow in Ado-Ekiti over an alleged N1.98 billion fraud.

Justice Abimbola Awogboro granted the order following an application filed by the Economic and Financial Crimes Commission (EFCC).

According to a statement issued by the EFCC’s Ilorin zonal directorate on Tuesday, the affected properties include Town Tavern Lounge located along Ikere Road, Ado-Ekiti, and a four-bedroom bungalow situated at Irewolede Estate in the Ekiti State capital.

The anti-graft agency alleged that the properties were linked to one Olorunbukunmi Taiwo, who is being investigated for allegedly defrauding a woman, identified as Lady Anazia Colina Kenechukwu, of N1.98 billion.

The court held that the commission had fulfilled all legal requirements necessary for the interim forfeiture order.

An interim forfeiture allows authorities to temporarily seize assets suspected to be proceeds of crime pending the conclusion of investigations or further court proceedings.

The EFCC said the order forms part of ongoing efforts to trace and recover assets allegedly acquired through unlawful activities.

The commission added that investigations into the alleged fraud case were still ongoing.