A Federal High Court in Lagos has ordered the final forfeiture of N178,966,938, multiple landed properties, and vehicles to the Federal Government of Nigeria, following an investigation by the Economic and Financial Crimes Commission (EFCC) into suspected proceeds of unlawful activities.
The court ruling, delivered on February 10, 2026, was based on a motion filed by the EFCC’s Lagos Zonal Directorate 1. Justice C.J. Aneke granted the forfeiture after no individual or corporate entity contested the application, confirming that the assets were reasonably suspected to be acquired through unlawful means.
The forfeited assets belonged to Stanley Akaria Chinemerem, who allegedly defrauded his employer, Godwin Uche Okearafor, a Lagos-based cosmetics entrepreneur. Investigations revealed that Chinemerem manipulated post-dated cheques, diverted proceeds into personal accounts, laundered funds through multiple bank accounts, and converted some into digital assets to acquire high-value properties and vehicles.
Seized Assets
Among the assets permanently forfeited are:
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A fully detached six-bedroom duplex on approximately 722 square metres at Nnabuenyi Street, Abule Oshun, Amuwo Odofin, Lagos.
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Two undeveloped land parcels at Onireke Town, Amuwo Odofin, measuring 667.070 square metres and 60 feet by 120 feet.
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Two vehicles: a black 2012 Toyota Highlander (LND 401JC) and a red 2018 Toyota Venza (FCT 998 JX).
EFCC counsel Zeenat Atiku informed the court that all documents were properly served, and no objections were filed within the stipulated period. An earlier interim forfeiture order issued in December 2025 had been published in The Punch to allow interested parties to respond.
EFCC’s Broader Recovery Efforts
The commission’s actions form part of its sustained efforts to recover proceeds of economic and financial crimes in Nigeria. In recent years, the EFCC reported recovering:
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N566 billion, $411 million, and 1,502 properties over two years.
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Hundreds of high-value vehicles, duplexes, and digital assets.
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Assets reinvested into government programmes or auctioned for public use.
The agency continues to demonstrate growing effectiveness in asset recovery, signaling strong enforcement against financial crimes and reinforcing international confidence in Nigeria’s anti-corruption measures.
