The Federal High Court in Abuja has reversed the temporary forfeiture of Teleology Nigeria Limited’s properties and reprimanded the Economic and Financial Crimes Commission (EFCC) for concealing a N55 billion judgment secured against the company by Keystone Bank, as well as an ongoing appeal.
Justice Emeka Nwite reversed the forfeiture on September 23, 2025, holding that the EFCC had no right to pursue recovery of the loans on behalf of Keystone Bank by alleging that Teleology acquired the properties through unlawful activities or proceeds of crime.
Nwite, while refusing EFCC’s application for final forfeiture, held that the following Teleology properties — Plot 467, Cadastral Zone, Durumi District, Federal Capital Territory, Abuja; MH 401, Maitama Heights, Plot 47, Maitama District, Abuja; and MH 601, Maitama Heights, Plot 47, Maitama District, Abuja — were not acquired from proceeds of crime or unlawful activities.