By Atoyebi Nike
Justice Alexander Owoeye of the Federal High Court, Ikoyi, has ordered the final forfeiture of $222,729.86 USDT recovered from a Chinese cybercrime syndicate arrested during the EFCC’s “Eagle Flush Operation.”
The suspects were among 792 individuals arrested in Lagos on December 10, 2024, for alleged involvement in cryptocurrency investment scams and online romance fraud.
The order followed an ex parte motion filed by EFCC counsel, Zeenat Atiku, on July 18, 2025. The court was informed via an affidavit by EFCC investigator Muazu Abdulrahman that the syndicate funneled illicit funds through a Nigerian firm, Genting International Co. Limited (GICL).
Between April and December 2024, GICL’s Union Bank account reportedly received over ₦2.26 billion, sourced mainly from two crypto vendors, Chukwuemeka Okeke and Alhassan Aminu Garba, who confirmed receiving over $2.38 million USDT from the syndicate.
Atiku argued that the digital assets were proceeds of computer-related fraud and money laundering and asked for their forfeiture to the Federal Government.
Granting the motion, Justice Owoeye ruled that the application had merit and ordered the funds permanently forfeited.
