Court forfeits Nyanya hotel, factory, school linked to Theo Oloche Ebonyi

A Federal High Court sitting in Lafia has ordered the final forfeiture of a hotel, factory, school and other assets allegedly linked to Theophilus Oloche Ebonyi to the Federal Government.

The order followed an application by the Economic and Financial Crimes Commission, which argued that the properties were proceeds of unlawful activities.

Delivering judgment, Justice M.O. Olajuwon held that the anti-graft agency presented sufficient evidence to justify the forfeiture.

The forfeited assets include a 23-room hotel and event centre, De Thinkers Home and Apartments, located in Nyanya Gwandara; a warehouse and sachet water factory in Koroduma, Karu Local Government Area; two office buildings along Philip Doda Street; and Theo International Academy Primary School, also in Nyanya Gwandara.

The court also ordered the forfeiture of N1,005,489.27 found in a First Bank account linked to the respondent.

Justice Olajuwon ruled that the EFCC met the legal threshold under Section 17(1) of the Advance Fee Fraud and Other Fraud Related Offences Act, noting that the commission provided materials establishing that the assets were proceeds of unlawful activities.

“The Commission has placed sufficient materials before the court to prove that the assets are proceeds of unlawful activity,” the judge said.

He added that once reasonable suspicion had been established, the burden shifted to the respondents to justify the legitimacy of the assets, which they failed to do.

Earlier, the EFCC, through an affidavit deposed to by its investigator, Mary Ebute, informed the court that a Keystone Bank account belonging to Theobarth Global Foundation served as the primary channel through which funds were collected from victims.

The commission alleged that the account was used to operate a Ponzi scheme and launder proceeds through the acquisition of the forfeited assets.

Counsel to the EFCC, Ibrahim Buba, urged the court to grant final forfeiture, arguing that the properties were directly traceable to fraudulent activities.

The court subsequently granted the application, transferring ownership of the assets to the Federal Government.