Court Orders Final Forfeiture of Properties to FG

On Thursday, a Federal High Court presided by Justice M.O. Olajuwon in Lafia, Nasarawa State, issued a final forfeiture order for multiple properties and cash amounting to ₦1,005,489.27 linked to Theophilus Oloch, associated with unlawful activities.

The forfeited assets include a 23-room hotel and event center known as "The Thinker Home," located on Abattoir Road, Nyanya Gwandara, as well as a warehouse, a sachet water factory, two office buildings, and a primary school situated in the same area. The court found sufficient evidence presented by the Economic and Financial Crimes Commission (EFCC) to prove that the assets were proceeds of unlawful activities.

Justice Olajuwon stated that the EFCC established reasonable suspicion regarding the assets, and the burden of proof shifted to the respondent, who failed to demonstrate why the assets should not be permanently forfeited to the Federal Government. The EFCC's investigation revealed that funds were laundered through accounts belonging to Theobarth Global Foundation, which collected money from victims of a Ponzi scheme.