Court Orders Final Forfeiture Of Seven Properties Worth N35 Billion Linked To Former First Bank Employee

Justice Dehinde Dipeolu of the Federal High Court in Ikoyi, Lagos, on Thursday, April 10, 2025, ordered the final forfeiture of seven properties linked to Muiz Tijani Adeyinka, a former employee of First Bank Plc.

The properties slated for forfeiture include parcels of land and residential units across Lagos and Abuja, notably at Itunu City, Aiyetoro, Epe; Le Moriah Residences Estate, Ikate, Lekki Peninsula; Amen Estate Phase III Extension, Abomiti Zone, Lekki/Epe Expressway; Arizon Estate, Idera Scheme, Eleko Junction; and Tiara by Amen City Limited, along Lekki/Epe Expressway. Properties in Ochacho Real Homes, LifeCamp, Abuja, were also affected.

The ruling followed a motion filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), represented by counsel Zeenat Atiku. Justice Dipeolu had earlier granted an interim forfeiture order and directed its publication in a national newspaper, inviting any interested parties to contest the action.

At Thursday’s hearing, Atiku informed the court that no objections were filed within the 14-day window provided after the publication. She further supported the final forfeiture request with an affidavit deposed to by EFCC operative Isah Yusuf Nadabo.

According to the affidavit, Tijani, who worked at the bank’s settlement office, exploited his privileged access to carry out illegal and unauthorized activities against First Bank. Investigators traced approximately N35 billion allegedly benefitting Tijani and his associates, leading to suspicions that the properties were acquired through unlawful means.

After reviewing the submissions, Justice Dipeolu found merit in the application and granted the final forfeiture, transferring ownership of the properties to the Federal Government of Nigeria.