Justice Dehinde Dipeolu of the Federal High Court
sitting in Ikoyi, Lagos, on Tuesday, August 26, 2025, ordered the final
forfeiture of several units of shares valued at N246,305,544 ( Two Hundred and
Forty Six Thousand, Three Hundred and Five Naira, Five Hundred and Forty Four
Kobo) linked to a former Managing Director of the Nigerian Army
Properties Limited, NAPL, Major-General U.M. Mohammed(rted.), to the Federal
Government of Nigeria.
The judge gave the order, following a motion on notice filed by the Lagos Zonal
Directorate 1 of the Economic and Financial Crimes Commission, EFCC,
through its lawyer, H.U. Kofarnaisa.
Justice Chukwujekwu Aneke had earlier ordered the interim forfeiture of the
shares and publication of same in a national newspaper for any interested
parties to show cause why the properties should not be finally forfeited to the
Federal Government.
Moving the application for the final forfeiture, Kofarnaisa told the court that
the application was supported by an affidavit deposed to by Nwike Fortune, an
investigating officer of the EFCC.
In the affidavit, Nwike stated that he had investigated a petition from the
NAPL “regarding monumental fraud perpetrated by General U.M. Mohammed (Retd),
Mr. Yusuf Abdullahi Abubakar, and Mr. Kayode Oladipupo Filani”, adding that “
Investigation revealed that Mohammed, while serving as NAPL's Managing Director
between 2015 and 2020, fraudulently sold company properties and diverted the
proceeds for personal use.
“In a bid to conceal proceeds of unlawful activities, he acquired shares in
Awhua Resources Limited using misappropriated funds.
“Some of the shares include: National Aviation Handling Company(N115,567,906);
Oando Plc ( N2,000,000); Dangote Sugar Refinery ( N1,000,000); Vitafoam Nigeria
Plc (N81,901,651) and University Press (N40,155,291).”
Kofarnaisa, thereafter, submitted that "It is in the interest of justice
to finally forfeit the said shares contained in Schedules A, B, and C of this
application, as they were acquired with funds that are reasonably suspected to
be proceeds of unlawful activities."
Justice Dipeolu, in his ruling, held that the argument had merit and ordered
the final forfeiture of the shares to the Federal Government of Nigeria.
Comments:
Leave a Reply