Court Orders Final Forfeiture of Seven Properties Linked to Former First Bank Employee
The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of seven properties linked to Muiz Tijani Adeyinka, a former employee of First Bank Nigeria Plc, following allegations of fraud amounting to billions of naira.
Presiding over the case, Justice Dehinde Dipeolu granted the order on Thursday after hearing a motion filed by the Economic and Financial Crimes Commission (EFCC).
The anti-graft agency had earlier secured an interim forfeiture order and published a notice in a national newspaper inviting any interested parties to contest the move. However, no objections were filed within the required 14-day period.
The EFCC, through its counsel Zeenat Atiku, argued that the properties were acquired with proceeds of illegal activities. An affidavit submitted by EFCC operative Isah Yusuf Nadabo revealed that Tijani, while working at the bank’s settlement office, abused his position to carry out unauthorized transactions.
“He carried out illegal and fraudulent activities against First Bank Nigeria Plc,” Nadabo stated. “Investigations so far have uncovered approximately ₦35 billion traced to Tijani and his associates.”
The forfeited assets include several parcels of land and residential properties located across Lagos and Abuja. Among them are:
- A flat at Le Moriah Residences Estate, Ikate, Lekki
- Plots in Amen Estate, Itunu City, and Arizon Estate in Ibeju-Lekki
- A property within the Ochacho Real Homes estate in Life Camp, Abuja
- A parcel of land in the Tiara development by Amen City Limited, Epe
Justice Dipeolu ruled that the EFCC had presented sufficient evidence to justify the forfeiture and ordered that the properties be permanently transferred to the Federal Government.
This ruling marks another significant development in the EFCC’s ongoing efforts to recover assets acquired through illicit means.
