KC Luxury Assets Frozen Over Alleged Drug Proceeds

A Federal High Court in Lagos has ordered the interim preservation of properties, luxury vehicles and funds linked to businessman and social media influencer Afolabi Kazeem, popularly known as KC Luxury, following allegations of drug trafficking and money laundering.

The order, issued by Justice Musa Kakaki on September 25, covers five landed properties, three vehicles and funds held in several bank accounts connected to the case.

Among the assets affected are Next Level Hotel & Suites in Egbeda, Lagos, as well as properties in Ikoyi, Lekki and Lagos Island. The vehicles include a 2025 Tesla Cybertruck, a 2025 Toyota Hilux and a Toyota Lexus RX 350.

The court also ordered the preservation of funds in accounts linked to individuals and companies named in the proceedings. One account contained over N59m, while another had more than N1m at the time cited in the court order.

The asset preservation came as KC Luxury and two other defendants face a 22-count charge involving alleged conspiracy, cocaine trafficking, illegal export of narcotics and money laundering. They have all pleaded not guilty.

The NDLEA alleges that the defendants were involved in an attempt to export 184.5kg of cocaine to the United Kingdom in five consignments. The agency valued the seized cocaine at about N39bn.

The prosecution also alleges that several billions of naira were moved through different companies and personal accounts and used to acquire vehicles and landed properties as part of an alleged effort to conceal the origin of the funds.

KC Luxury was arrested in August while allegedly attempting to travel to Paris. The NDLEA had earlier linked his arrest to the seizure of the cocaine consignment and subsequent recovery of luxury vehicles, foreign currency and jewellery.

The court has also dismissed the defendants’ bail applications and ordered an accelerated hearing of the case. The matter is scheduled for further proceedings in November, while the preservation order is expected to come up for a compliance report on October 14.

The asset preservation is an interim measure and does not amount to a final forfeiture or a finding that the properties or funds are proceeds of crime. The allegations against the defendants remain subject to determination by the court.

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