KC Luxury assets frozen by the Federal High Court in Lagos after Justice Musa Kakaki ordered the interim preservation of properties, luxury vehicles and funds linked to businessman and social media influencer Afolabi Kazeem Michael, popularly known as KC Luxury, amid an ongoing alleged cocaine trafficking and money laundering case.
The judge issued the preservation order on September 25 after the National Drug Law Enforcement Agency (NDLEA) approached the court through an ex-parte application filed on behalf of the Federal Government. The agency asked the court to preserve assets it believed could be connected to proceeds of alleged unlawful activities.
The order covers five landed properties, three vehicles and funds held in four bank accounts. The court also directed the relevant parties to comply with the order and fixed October 14 for a report on compliance.
The development adds another layer to the case against KC Luxury, who faces trial alongside Boniface Freeman Ochoche Sule and Ikechukwu Ekugo Patriarch.
KC Luxury Assets Frozen in Lagos
The court’s order covers several properties in Lagos, including a property at Dolphin Estate in Ikoyi, another property on the Lekki Peninsula and two plots of land along Pike Street in Obalende.
It also covers Next Level Hotel & Suites in Egbeda, Lagos, which appears among the properties listed in the court’s preservation order.
The vehicles named in the order include a grey Toyota Lexus RX 350, a black 2025 Toyota Hilux and a white 2025 Tesla Cybertruck. The court documents described the three vehicles as unregistered.
The order also covers funds in four bank accounts linked to individuals and companies named in the proceedings. The listed accounts include an FCMB personal business account belonging to Rabiu Kabiru Lawal, an FCMB corporate account belonging to Next Level Records & Logistics Solution Limited and a First Bank personal account belonging to Boniface Freeman Ochoche Sule.
One of the accounts, belonging to Mallamawa Ventures, reportedly contained about ₦59.26 million, while the FCMB personal business account listed in the order contained about ₦1.09 million. The court ordered the preservation of the funds pending further proceedings.
The NDLEA had asked the court to take the measure because it said it had reasonable grounds to believe the assets could represent proceeds connected to alleged drug trafficking and dealing.
However, the preservation order does not amount to a final forfeiture. It also does not establish that KC Luxury owns assets derived from crime or that he committed the offences alleged by the prosecution. The court will determine those issues through the ongoing criminal proceedings.
NDLEA Alleges 184.5kg Cocaine Export
The asset preservation order follows the NDLEA’s prosecution of KC Luxury and two other defendants over an alleged attempt to export 184.5 kilogrammes of cocaine to the United Kingdom.
The agency arraigned the three defendants before the Federal High Court in Lagos on a 22-count charge covering alleged conspiracy, cocaine trafficking, illegal export of narcotics and money laundering. The defendants pleaded not guilty to all the counts.
According to the prosecution, the alleged cocaine shipment consisted of five consignments that passed through a Lagos-based courier logistics company before the planned export to London. The NDLEA said the consignments carried different airway bill numbers and listed Yemi Ejide as the shipper.
The agency also alleged that KC Luxury paid ₦13.2 million from a Mallamawa Ventures account to BOT Express Logistics as payment connected to the shipment. It further accused him of moving billions of naira through several companies and personal accounts.
Sixteen of the 22 counts reportedly concern alleged money laundering. The NDLEA alleged that some of the funds went towards the purchase of vehicles and landed properties in an attempt to conceal their alleged source.
The agency also said it arrested KC Luxury on August 13 at the Murtala Muhammed International Airport in Lagos while he allegedly attempted to leave Nigeria on a business-class flight to Paris.
The arrest followed the interception of the alleged cocaine shipment, which the agency valued at about ₦39 billion. The NDLEA later said a search of his person and Banana Island residence led to the recovery of exotic vehicles, foreign currencies and jewellery that it believed were linked to proceeds of the alleged illicit trade.
The defendants have denied the allegations through their not-guilty pleas.
On October 2, Justice Kakaki rejected their bail applications after considering the seriousness of the alleged offences, the potential punishment and the possibility that the defendants could abscond if released. The judge ordered an accelerated hearing and fixed November 2, 3, 4 and 5 for trial.
The defendants will remain in custody as the prosecution begins presenting its case. The court’s latest asset order will remain an interim preservation measure while the criminal proceedings continue.
The case therefore remains unresolved, and the allegations against KC Luxury and the other defendants have yet to be tested through a full trial.