Justice Dehinde Dipeolu of the Federal High Court in Ikoyi, Lagos on Thursday, April 10, 2025, issued a ruling for the final forfeiture of seven properties associated with Muiz Tijani Adeyinka, a former employee of First Bank Plc.
The properties identified for forfeiture include: Plot 9, Block 28 Itunu City, Veritas Homes & Properties Ltd., Aiyetoro, Epe, Lagos State; a three-bedroom flat at Block A, Floor 6, Flat 2 (Block A/6/2) Le Moriah Residences Estate, Off Kusenla Road, Ikate Ancient City, Lekki Peninsula, Eti-Osa LGA, Lagos State; a parcel of land designated as Block L1, Plot 13, Amen Estate, Phase III Extension, Abomiti Zone, Lekki/Epe Express Way, Epe LGA, Lagos State; a parcel of land known as Block 3, Plot 13, Arizon Estate, located within the Idera Scheme Allocation at Eleko Junction, Ibeju-Lekki LGA; one plot of land within Arizone Estate, Idera Scheme, Ibeju-Lekki LGA; and one plot of land within Itunu Residential, Aiyetoro, Ibeju-Lekki LGA.
Additionally, the list includes a parcel of land known as Plot 7, Block 4 Itunu City, Veritas Homes & Properties Ltd, Aiyetoro, Epe LGA, Lagos; a parcel of land known as Plot 1, Ido Gwari 2 Extension, within Ochacho Real Homes, Ido-Gwari 2 Extension, LifeCamp, Abuja; and a parcel of land designated as Block Q, Plot 25, Tiara by Amen City Limited, along Lekki/Epe Express Way, Yeguda Resettlement Scheme, Epe, Lagos State.
The ruling came following a motion filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), represented by lawyer Zeenat Atiku. Justice Dipeolu had previously ordered the interim forfeiture of the properties and mandated that the order be published in a national newspaper, allowing interested parties a chance to contest the forfeiture.
During the hearing for the final forfeiture application, Atiku informed the court that “no one showed cause within the 14 days window granted after the publication.” Atiku further indicated that the application was supported by an affidavit from Isah Yusuf Nadabo, an EFCC operative.
In the affidavit, Nadabo revealed that Tijani worked at the bank’s settlement office, giving him access to exclusive capabilities associated with his position. He further stated that “He, therefore, carried out illegal, unauthorised and fraudulent activities against First Bank Nigeria Plc.”
According to the affidavit, investigations have traced the sum of N35 billion (Thirty Five Billion Naira) that benefitted Muiz Tijani Adeyinka and his associates. Atiku argued that the properties linked to Muiz were reasonably suspected to have been acquired through unlawful activities.
Upon considering the arguments presented by the EFCC’s counsel, Justice Dipeolu concluded that there was merit in the application and subsequently ordered the final forfeiture of the properties to the Federal Government of Nigeria.
