The Economic and Financial Crimes Commission (EFCC) has secured a final forfeiture in the suit filed against Stanley Akaria Chinemerem, who was accused of defrauding his employer, Godwin Uche Okearafor.
Naija News reports that the properties targeted for forfeiture by the Federal High Court in Lagos included a fully detached six-bedroom duplex at Nnabuinyi Street, Amuwo Odofin, two undeveloped plots of land in Onireke Town, Amuwo Odofin, and two luxury vehicles, a 2012 black Highlander Jeep and a 2018 red Venza.
Additionally, 28 bank accounts across various financial institutions, including Access Bank, FCMB, Zenith Bank, Globus Bank, Palmpay, and Fidelity Bank, were seized as part of the proceedings.
The order, delivered by Justice Chukwujeku Aneke of the Lagos Judicial Division, follows months of investigation and legal proceedings, marking a significant victory for the EFCC in its fight against economic and financial crimes.
EFCC lawyer, Zeenat B. Atiku, informed the court that the Commission traced massive fraudulent transactions totalling approximately ₦850 million from the account of Okearafor to multiple accounts maintained by Chinemerem, who reportedly earned a modest monthly salary of ₦90,000.
She told the court that investigators revealed that Chinemerem had used his position as an employee of Okearafor, a cosmetics business owner based in Lagos, to manipulate post-dated cheques from clients, diverting funds into his personal accounts without authorisation.
The EFCC, through its affidavit, detailed the method of operation 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 luxurious properties and vehicles.
The Commission also highlighted that Chinemerem voluntarily surrendered some of the properties and vehicles to EFCC custody following the interim order granted by the court on December 12, 2025.
The final order, granted on February 10, 2026, now transfers ownership of the properties, vehicles, and funds to the Federal Government of Nigeria in favour of Godwin Uche Okearafor, effectively preventing Chinemerem from benefiting from the proceeds of his alleged unlawful activities.
The EFCC lauded the court’s decision, emphasising the importance of Non-Conviction-Based forfeiture proceedings as a tool for recovering assets derived from criminal activities, even in cases where the perpetrator has not been convicted.
In its motion, the EFCC cited 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 as legal backing for the forfeiture, stating that the properties were reasonably suspected to be proceeds of unlawful activities and that the action was in the interest of justice.
