EFCC Hands Over Forfeited Properties Linked to Ex-Gov Nnamani to AMCON
The Economic and Financial Crimes Commission (EFCC) has handed over several forfeited properties linked to former Enugu State Governor, Dr. Chimaroke Nnamani, to the Asset Management Corporation of Nigeria (AMCON).
The handover, which took place in Enugu on Thursday, involved multiple high-value properties originally owned by Rainbownet Nigeria Limited, a company associated with the former governor. The properties were confiscated following a court ruling that found them to be proceeds of economic and financial crimes.
The forfeited assets include one bungalow, one wire house, and three duplexes located at No. 3/4 Pocket Layout Estate, Independence Layout, Enugu; a 12-room one-storey semi-detached building at No. 35B Abakaliki Road, Enugu; and two six-room duplexes at Nos. 3A and 3C Mount Street, Park Avenue, Enugu.
Speaking at the handover, EFCC Assistant Commander Aisha Abubakar, who represented the Commission’s Chairman Ola Olukoyede, said the transfer demonstrates the EFCC’s commitment to recovering illicit assets and returning them to government agencies for productive use.
She emphasized the importance of the Commission’s Department of Proceeds of Crime Management in tracking and reclaiming assets acquired through illegal means.
Receiving the properties on behalf of AMCON, Resolution Officer John Abuh commended the EFCC for its professionalism and dedication. He noted that the handover marked a successful collaboration between the two agencies and assured that the assets would be utilized in accordance with AMCON’s mandate to manage and recover non-performing assets in the national interest.
The properties in question were forfeited following a 2015 ruling by Justice Mohammed Yinusa of the Federal High Court in Lagos, which convicted four companies linked to Nnamani—Rainbownet Nigeria Limited, Cosmos FM, Capital City Automobile Nigeria Limited, and Renaissance University Teaching Hospital—on a 10-count amended charge filed by the EFCC. The companies pleaded guilty, leading to the forfeiture of their assets to the federal government.
The EFCC initiated legal proceedings against Nnamani in 2007 over alleged involvement in the laundering of over N5 billion during his tenure as governor from 1999 to 2007. Although the former governor was not personally convicted, the companies’ admission of guilt paved the way for the asset recovery.
This latest development underscores the federal government’s commitment to holding public officials and their associates accountable for corruption and economic crimes.
The EFCC has vowed to continue its efforts in tracing and recovering stolen public funds across the country.
