The Federal High Court in Lagos has granted a final forfeiture order in favour of the Federal Government of Nigeria following a Non-Conviction Based (NCB) forfeiture suit filed by the Economic and Financial Crimes Commission (EFCC) against Stanley Akaria Chinemerem, who was accused of defrauding his employer, Mr Godwin Uche Okearafor.
The order, delivered by Justice Chukwujeku Aneke of the Lagos Judicial Division, followed months of investigation and legal proceedings, marking a significant victory for the EFCC in its fight against economic and financial crimes.
EFCC counsel, Zeenat B. Atiku, informed the court that the Commission traced massive fraudulent transactions totaling approximately ₦850 million from the account of Mr Okearafor to multiple accounts maintained by Chinemerem, who reportedly earned a monthly salary of ₦90,000.
She told the court that investigations revealed that Chinemerem exploited his position as an employee of Okearafor, a Lagos-based cosmetics business owner, to manipulate post-dated cheques from clients, diverting funds into his personal accounts without authorisation.
The properties ordered forfeited include a fully detached six-bedroom duplex on Nnabuinyi Street, Amuwo Odofin; two undeveloped plots of land in Onireke Town, Amuwo Odofin; and two luxury vehicles — a 2012 black Toyota Highlander and a 2018 red Toyota Venza. In addition, 28 bank accounts across several financial institutions, including Access Bank, FCMB, Zenith Bank, Globus Bank, PalmPay and Fidelity Bank, were forfeited.
In an affidavit filed in support of the application, the EFCC detailed the modus operandi employed by Chinemerem, stating that he laundered the funds by transferring them through multiple bank accounts and converting portions into digital assets before using the proceeds to acquire luxury properties and vehicles.
The Commission also disclosed that Chinemerem voluntarily surrendered some of the properties and vehicles to EFCC custody following an interim forfeiture order granted by the court on December 12, 2025.
Justice Aneke had earlier directed the EFCC to publish the interim forfeiture order in a national newspaper to allow any interested parties to contest the forfeiture.
The Commission complied by publishing the notice on January 8, 2026, in The Punch newspaper. No objections or competing claims were subsequently received.
The final forfeiture order, granted on February 10, 2026, transfers ownership of the properties, vehicles and funds to the Federal Government of Nigeria for restitution to Mr Godwin Uche Okearafor, effectively preventing Chinemerem from benefiting from the proceeds of the alleged unlawful activities.
The EFCC welcomed the ruling, emphasising the importance of Non-Conviction Based forfeiture proceedings as a vital tool for asset recovery, even in cases where a criminal conviction has not been secured.
In its application, the EFCC relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, No. 14 of 2006, and Section 44(2)(b) of the 1999 Constitution of the Federal Republic of Nigeria, arguing that the assets were reasonably suspected to be proceeds of unlawful activities and that the forfeiture was in the interest of justice.
