The Federal High Court in Lagos has ordered the final forfeiture of two Abuja properties linked to Adeseun Adeniyi Olakunle and Omotosho Abraham Aremu over an alleged N777.2 million fraudulent transaction.
Justice Deinde Dipeolu made the order on Wednesday, October 7, 2026, following an application by the Economic and Financial Crimes Commission (EFCC).
The properties are a three-bedroom bungalow at Plot D061, Magoro Drive, Phase 2, City View Estate, Dakwo District, Abuja, and about 4.2 hectares of land at Plots MF 2344, 1980A, 1981A and 1979A, Sabon Lugbe East Extension, Abuja.
The application, marked FHC/LAG/644/2026, was argued by EFCC counsel, Chinyere Okezie, under relevant provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, the 1999 Constitution and the court’s inherent jurisdiction.
The case followed a petition by Bolaji Ayorinde Law LLP alleging obtaining by false pretence and stealing.
According to an affidavit by EFCC investigator Ahmed Bello, the respondents allegedly lured a complainant into a purported presidentially backed land scheme involving about 30,134,189 square metres in Maroko, Lekki 1, Lagos.
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They allegedly claimed links to the Presidency and the Office of the Surveyor-General of the Federation, while Olakunle purportedly presented himself as a Lagos State Government deputy director and displayed a government identity card.
The complainant, the commission said, paid N1.5 million on August 19, 2025, N15 million on August 28 and N735 million on September 8.
Investigators later traced N145 million to Nwadije Tracy Otite on September 16, 2025, for the bungalow, and N100 million to NCR and Associates Ltd on October 9 for the second property.
The EFCC said the recipients subsequently confirmed that the properties belonged to the respondents.
Justice Dipeolu had granted an interim forfeiture order on June 17, 2026, directing publication to allow interested parties to object. The order was published in The Guardian on July 3, but no objection was received.
After reviewing the application and supporting processes, the judge found merit in the EFCC’s case and granted the reliefs sought.
The two properties were consequently finally forfeited to the Federal Government.