Justice Dehinde Dipeolu of the Federal High Court in Lagos has ordered the final forfeiture of shares worth over N5 billion traced to former Group Managing Director of Nigerian Army Properties Limited (NAPL), Major General Umar Mohammed, and businessman Kayode Oladipupo Filani.
The order, delivered on Tuesday, followed an application by the Economic and Financial Crimes Commission (EFCC), which told the court that the 245,568,137 shares were purchased with proceeds of unlawful activities carried out during Mohammed’s tenure as head of the Army’s property company.
EFCC counsel, Hanatu Kofanaisa, explained that a Special Court Martial had already convicted Mohammed on 14 out of 18 counts of stealing and related offences.
She added the Commission had met all legal requirements for final forfeiture, including the mandatory newspaper publication, without any objection being filed.
In granting the application, Justice Dipeolu held that the EFCC had proved its case and ordered the shares permanently forfeited to the Federal Government, in favour of the Nigerian Army Properties Limited.
The application was brought under Section 44(2)(b) of the 1999 Constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
According to court documents, the forfeited shares were held through Rowet Capital Management Limited and Resort Securities & Trust Limited, in the name of Awhua Resources Limited, a company linked to Mohammed.
Among the forfeited assets are millions of shares in leading Nigerian companies such as Cadbury Nigeria Plc, Dangote Sugar Refinery Plc, Flour Mills Plc, Conoil Plc, Oando Plc, Japaul Gold & Ventures Plc, NAHCO, Vitafoam Nigeria Plc, Transcorp, Union Bank of Nigeria, and Unilever Nigeria.
EFCC investigations revealed that Mohammed, as head of NAPL, illegally sold army-owned properties and channeled the proceeds into massive stock acquisitions to disguise the source of the funds.
In an affidavit supporting the application, EFCC investigator Nwike Fortune stated that preliminary investigations revealed proceeds of the sales of the properties were used in the acquisition of shares in different companies now sought to be finally forfeited.
He added that the stocks contained in the attached schedules were acquired with part of funds fraudulently obtained by Maj. Gen. Mohammed’s unlawful activities whilst Managing Director of Nigerian Army Properties Limited.
The court also noted that the anti-graft agency had previously secured the forfeiture of five properties linked to Mohammed, following his conviction by the military court martial.
A Special Court Martial set up by the Nigerian Army had on October 4, 2023 found Major General Umar Mohammed, guilty of 14 of 18 count charges, including stealing and other sundry offences, which are all contrary to service laws.
The charges brought against the General bother on stealing, forgery, conspiracy, theft, unauthorised diversion of army property, among others.
In one of the charges on which he was found guilty, General Mohammed was alleged to have collected the sum of $1.045,400 paid by shipping companies for the use of Nigerian Army Jetty located at no 6 Marina, Victoria Island, Lagos.
He was also found guilty of a theft of $430.800 being monies paid into Nigerian Army Domiciliary account at Unity Bank, Abuja for use of Nigerian Army Jetty, Marina, Lagos.
The court martial also found him guilty of withdrawing and confiscating the sum of N74million out of N75million paid for a property belonging to the Nigerian Army at Ikoyi, Lagos.
The General was however found not guilty on allegations that he sold Army property worth N200million in Lagos as well as stole the sum of another N750million out of the sum of N2.5billion secured from banks as well as contribution from subscribers for an Army Housing Estate in Asokoro, Abuja.
He was also not found guilty of charges of forging a Deed of Agreement document pursuant to confiscating another Army property in Lagos.
Wale Igbintade
Follow us on: