Bank staff loses seven properties to FG over N35bn fraud

By Oluwapelumi Oluwayemi

Justice Dehinde Dipeolu of the Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of seven properties linked to Muiz Tijani Adeyinka, a former staff member of an old generation bank, to the Federal Government of Nigeria.

The order was granted on Thursday, April 10, 2025, following a motion filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), presented by prosecuting counsel Zeenat Atiku.

The forfeited properties include residential flats and parcels of land across Lagos, Abuja, and other locations, notably in Itunu City, Amen Estate, Arizona Estate, and Ochacho Real Homes. Justice Dipeolu had previously ordered an interim forfeiture and directed that the notice be published in a national newspaper. With no opposition filed within the 14-day period, the court upheld the EFCC’s request for a final forfeiture.

In an affidavit submitted alongside the application, EFCC operative Isah Yusuf Nadabo stated that Tijani, while working in the bank’s settlement office, exploited his position to conduct illegal and unauthorized transactions. Investigations allegedly traced N35 billion in suspected fraudulent proceeds to Tijani and his associates.

Justice Dipeolu ruled that the EFCC’s application had merit and consequently declared the final forfeiture of the properties.