EFCC Secures Final Forfeiture of N850m, Luxury Properties, Vehicles in Lagos Fraud Case

The Federal High Court in Lagos has granted a final forfeiture order in favor of the Federal Government of Nigeria, following a Non-Conviction Based (NCB) forfeiture suit filed by the Economic and Financial Crimes Commission (EFCC) against Stanley Akaria Chinemerem, who was accused of defrauding his employer, Mr. Godwin Uche Okearafor.

The order, delivered by Justice Chukwujeku Aneke of the Lagos Judicial Division, follows months of investigation and legal proceedings, marking a significant victory for the EFCC in its fight against economic and financial crimes.

EFCC lawyer, Zeenat B. Atiku informed the court that, the Commission traced massive fraudulent transactions totaling approximately N850 million from the account of Okearafor to multiple accounts maintained by Chinemerem, who reportedly earned a modest salary of N90,000 per month.

She told the court that investigators revealed that Chinemerem had used his position as an employee of Okearafor, a cosmetics business owner based in Lagos, to manipulate post-dated cheques from clients, diverting funds into his personal accounts without authorisation.

The properties targeted for forfeiture included a fully detached six-bedroom duplex at Nnabuinyi 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 EFCC custody following the interim order granted by the court on December 12, 2025.

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

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 to recover assets derived from criminal activities, even in cases 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.