Court Orders Final Forfeiture Of N850m, Properties, Vehicles To FG

Justice Chukwujeku Aneke of the Federal High Court in Lagos has ordered the final forfeiture of N850 million, properties, and vehicles seized from Stanley Chinemerem, who was accused of defrauding his employer.

The judge ordered that the money and assets be forfeited to the federal government after listening to a Non-Conviction Based (NCB) application filed by the Economic and Financial Crimes Commission (EFCC).

The EFCC lawyer, Zeenat Atiku, had informed the court that the commission traced extensive fraudulent transactions totalling N850 million from the account of Chinemerem’s employer, Godwin Okearafor, to multiple accounts belonging to him.

She told the court that investigators uncovered that Chinemerem, who reportedly earns a modest N90,000 monthly salary, used his role as a Lagos-based cosmetics business owner to manipulate post-dated cheques from clients, diverting funds into his personal accounts without approval.

The properties targeted for forfeiture included a fully detached six-bedroom duplex at Nnabuenyi Street, Amuwo Odofin, two undeveloped plots of land in Onireke Town, Amuwo Odofin, and two luxury vehicles – a 2012 black Highlander Jeep and a 2018 red Venza. Additionally, 28 bank accounts across various financial institutions, including Access Bank, FCMB, Zenith Bank, Globus Bank, Palmpay, and Fidelity Bank, were seized as part of the proceedings.

The EFCC, through its affidavit, detailed the method of operation employed by Chinemerem, stating that he laundered the funds by transferring them through multiple bank accounts and converting portions into digital assets before using the proceeds to acquire luxurious properties and vehicles.

The Commission also highlighted that Chinemerem voluntarily surrendered some of the properties and vehicles to the EFCC’s custody following the court’s interim order on December 12, 2025.

Justice Aneke had earlier directed the EFCC to publish the interim forfeiture order in a national newspaper to allow interested parties to contest it.

The Commission complied, publishing the order on January 8, 2026, in The Punch Newspaper. No objections or claims were subsequently received.

The final order, granted on February 10, 2026, now transfers ownership of the properties, vehicles, and funds to the Federal Government of Nigeria in favour of Mr Godwin Uche Okearafor, effectively preventing Chinemerem from benefiting from the proceeds of his alleged unlawful activities.

The EFCC lauded the court’s decision, emphasising the importance of Non-Conviction-Based forfeiture proceedings as a tool for recovering assets derived from criminal activities, even where the perpetrator has not been convicted.

In its motion, the EFCC cited Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act No. 14 of 2006 and Section 44(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria as legal backing for the forfeiture, stating that the properties were reasonably suspected to be proceeds of unlawful activities and that the action was in the interest of justice.