Court Orders General Mohammed, Businessman to Forfeit N5bn Worth of Shares
The Federal High Court in Lagos has ordered the final forfeiture of shares valued at more than N5 billion linked to former Group Managing Director of Nigerian Army Properties Limited (NAPL), Major General Umar Mohammed, and businessman Kayode Oladipupupo Filani.
Justice Dehinde Dipeolu delivered the ruling on Monday, granting the request of the Economic and Financial Crimes Commission (EFCC) after it was established that the shares were acquired with proceeds of unlawful activities.
The anti-graft agency told the court that General Mohammed, during his tenure at NAPL, fraudulently sold properties belonging to the Nigerian Army and diverted the proceeds to purchase 245,568,137 shares through Awhua Resources Limited. The shares, managed by Rowet Capital Management Limited and Resort Securities & Trust Limited, were traced across several prominent Nigerian companies, including Cadbury Nigeria Plc, Conoil Plc, Dangote Sugar Refinery Plc, Flour Mills Plc, NASCON Allied Industries Plc, Oando Plc, Vitafoam Nigeria Plc, PZ Industries, Union Bank of Nigeria, and Transcorp, among others.
The EFCC further explained that Mohammed had already been convicted on 14 out of 18 counts of stealing and related offences by a Special Court Martial, which strengthened its case for forfeiture. The commission met all legal requirements, including the statutory publication of the application in a national newspaper. Since no objections were filed, the court granted the application.
Justice Dipeolu held that the order was in line with Section 44(2)(b) of the 1999 Constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006. By the ruling, the shares are now to be permanently forfeited to the Federal Government for the benefit of NAPL.
This development comes on the heels of earlier forfeiture proceedings in which EFCC secured the transfer of five properties linked to the former army official. The case underscores ongoing efforts by the anti-graft agency to recover public assets allegedly misappropriated by officials and their collaborators.
