Wale Igbintade
Fieldreams Limited, its promoter, Ifeanyi Nweke, and Amex Savings and Loans Limited have approached the Lagos Division of the Court of Appeal, seeking to overturn a Federal High Court judgment ordering the final forfeiture of 52 terrace and maisonette units at Mercyville Estate, Lekki Peninsula Scheme, Eti-Osa Local Government Area of Lagos State.
The appellants are also asking the appellate court to stay the execution of the July 14, 2026 judgment pending the determination of their appeal.
In a motion filed through their counsel, Victor Ukutt, the appellants are seeking an order staying the execution of the Federal High Court’s final forfeiture order. In the alternative, they are asking the court to preserve the property and maintain the status quo until the appeal is determined.
The respondents in the appeal are the Chairman of the Economic and Financial Crimes Commission (EFCC), Dr. Kennedy Okonkwo, and 17 other individuals listed as beneficiaries under the disputed forfeiture order.
According to the appellants, enforcing the judgment before the appeal is heard would render the appeal nugatory and irreparably undermine their constitutional right to challenge the decision.
They argued that the Federal High Court’s order effectively transferred ownership of the 52 housing units to private individuals, contrary to Section 17 of the Advance Fee Fraud and Other Related Offences Act, which, they contend, permits forfeited assets to be vested only in the federal government.
In their notice of appeal, the appellants challenged the July 14, 2026 judgment delivered by Justice Alexander Owoeye on several grounds, including alleged lack of jurisdiction, erroneous interpretation of the forfeiture provisions and denial of fair hearing.
They maintained that there was no evidence before the trial court establishing that the properties were proceeds of unlawful activities under the Advance Fee Fraud and Other Related Offences Act, the Money Laundering Act or any other law enforceable by the EFCC.
The appellants further argued that the funds used to acquire and develop the Mercyville Estate project were derived from legitimate business transactions, including land and property sales, as well as other lawful commercial activities carried out in line with the Companies and Allied Matters Act and the corporate objectives of the companies involved.
They also faulted the trial judge for allegedly failing to consider their affidavit evidence and documentary exhibits, including a 2007 Deed of Assignment relating to the acquisition of the land.
Another major ground of appeal is the allegation that the trial court failed to determine their objection that the dispute was essentially contractual and civil in nature, with arbitration clauses governing disagreements between the parties.
They further contended that related suits involving the same parties and subject matter were already pending before another judge of the Federal High Court, raising issues of abuse of court process that were ignored.
The appellants therefore urged the Court of Appeal to set aside the final forfeiture judgment and grant an injunction restraining the respondents from taking possession of or otherwise dealing with the 52 residential units pending the final determination of the appeal.
They also expressed concern over what they described as the EFCC’s hurried enforcement of the judgment, alleging that commission officials stormed the estate despite having been served with the notice of appeal and motion for stay of execution on July 15, 2026, even though settlement of the record had been fixed for July 24.
According to the appellants, EFCC personnel disrupted activities in the estate and directed residents to vacate the premises by Monday.
They described the action as an abuse of authority and urged the appellate court to intervene to preserve the subject matter of the appeal.
