Fraud: Ex-banker, Muiz Tijani Adeyinka, fingered for N35bn theft,loses several properties
A Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of seven properties linked to Muiz Tijani Adeyinka, a former employee of First Bank Nigeria Plc.
The ruling, delivered on Thursday, April 10, 2025, by Justice Dehinde Dipeolu follows a motion filed by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), represented by counsel Zeenat Atiku.
Investigations have allegedly traced N35 billion in illicit funds linked to Tijani and his associates.
The affected properties include: Plot 9, Block 28, Itunu City, Veritas Homes & Properties Ltd., Aiyetoro, Epe, Lagos State
A three-bedroom apartment at Block A, Floor 6, Flat 2, Le Moriah Residences Estate, Off Kusenla Road, Ikate, Lekki Peninsula, Eti-Osa LGA, Lagos,
Block L1, Plot 13, Amen Estate Phase III Extension, Abomiti Zone, Lekki/Epe Expressway, Epe LGA, Lagos,
Block 3, Plot 13, Arizon Estate, Idera Scheme, near Eleko Junction, Ibeju-Lekki LGA, Lagos
A plot of land within Arizon Estate, Idera Scheme, Ibeju-Lekki LGA
Plot 7, Block 4, Itunu City, Veritas Homes & Properties Ltd., Aiyetoro, Epe LGA, Lagos
Plot 1, Ido Gwari 2 Extension, Ochacho Real Homes, Life Camp, Abuja
Block Q, Plot 25, Tiara by Amen City Ltd., Lekki/Epe Expressway, Yeguda Resettlement Scheme, Epe, Lagos
The court had previously granted an interim forfeiture order and directed that it be published in a national newspaper to allow any interested parties to contest the forfeiture.
When moving the application for final forfeiture, EFCC counsel Zeenat Atiku informed the court that no objections were raised during the 14-day notice period. The motion was supported by an affidavit from EFCC operative Isah Yusuf Nadabo.
According to the affidavit, Tijani, who worked in the bank’s settlement office, exploited privileged system access to engage in unauthorized and fraudulent activities.
Atiku told the court that the properties in question were suspected to have been acquired using proceeds from these unlawful activities.
Justice Dipeolu agreed with the EFCC’s submission and concluded that the application had merit.
He therefore ordered the final forfeiture of all seven properties to the Federal Government of Nigeria.
₦35 billion is not pocket change—this isn’t just theft, it’s a reflection of systemic failure. It’ll be interesting to see if others in the chain are held accountable, not just the fall guy.