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Multimillion fraud: Police gets Court’s nod to finally forfeit Bizman, Ademola Akinyemi’s properties

by Usman Kadri
March 13, 2025
Reading Time: 2 mins read
Bizman, Ademola Louis’ further trial on alleged multimillion-naira fraud fixed for March 4
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Justice Yellim Bogoro of Federal High Court an today, ordered final forfeiture of a property linked to a businessman, Ademola Louis Akinyemi, over alleged Multimillion fraud, to the Police Special Fraud Unit PSFU of the Nigeria Police, Milverton, Ikoyi, Lagos.

The businessman’s property forfeited by the court, is a 3-storey building of six units apartments and it’s appurtenance, situated at No. 2, Etsoye Close, Off 1, Shonibare Estate, Onigbongbo, Maryland, Ikeja, Lagos.

The judge also ordered the PSFU to indemnify the supposed victims of the fraud, from the proceeds of the said property.

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Identified as the victims alleged mentioned fraud are; Imeh Jimmy Ikpaisong and Kate Ichieko, who were said to have been defrauded by the businessman of the sum of N20, 430 million and N12,300 million respectively.

Justice Bogoro made the above orders while granting final forfeiture application filed before the court in a suit marked FHC/L/CS/372/2023.

The application which was pursuant to SECTION 6(6) of Constitution of the Federal Republic of Nigeria, 1999 (as amended); Section 321, 328, 537, 340, 338(1) of the Administration of Criminal Justice Act, 2015; Section 4 of the Police Act, 2020; Section 17(1) of the Advance Fee Fraud; Section 8, 9 & 10 of the Proceed of Crime (Recovery and Management) Act, 2022, and Other Related Offences Act, 2006, and under the court’s inherent jurisdiction.

PSFU through it’s lawyer, Achi Caleb, an Assistant Superintendent of Police (ASP), in the motion for final forfeiture order had asked the court for the following reliefs: “an order of the honourable court, for a final forfeiture of the landed property specified in schedule One (1) of this motion to the Nigeria Police Force, via the Commissioner of the Police, Police Special Fraud Unit, No. 13 Milverton Road, Ikoyi, Lagos.

“An Equitable Order of the honourable court, directing the Commissioner of the Police, Police Special Fraud Unit, to first of all, indemnified the victims of the crime from the proceeds of the said property to wit; “Imeh Jimmy Ikpaisong ‘m’, in terms of Twenty Million, Four-Hundred and Thirty Thousand Naira (N20, 430, 000. 00) Only defrauded of. And Kate Ichieko ‘f, in terms of Twelve Million, Three-Hundred Thousand Naira (12,300,000.00K) only, defrauded of.

“And for such other further(s) order as the court may deem fit to make in the circumstance.”

The motion was supported with affidavit of 18 paragraphs deposed to by one Inspector Patrick Oporom, investigator with Police Special Fraud Unit, Lagos.

Listed as the businessman’s co-respondents in the suit were: Temitope Abiodun Akinyemi; Farmcenta Global Investment Limited; Centavestse Limited and  Integrated Services Nig. Limited.

The court had on October 28, 2024, granted an interim forfeiture of the property, and placed a lien on his accounts, to avoid dereliction of the ‘res’.

However, the suit was pending and the interim forfeiture order lasted, the respondent did not file any counter to suit, neither was the interim forfeiture order was challenged.

Delivering judgment on the motion for the final forfeiture order, Justice Bogoro, after perusing the court filed held that the respondents did not file any response or counter to the suit.

The judge consequently granted all the reliefs sought by the police as prayed.

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