A Federal High Court sitting in Ikoyi, Lagos, has ordered the final forfeiture of shares worth over ₦246 million linked to a former Managing Director of Nigerian Army Properties Limited (NAPL), Major-General U.M. Mohammed (rtd), to the Federal Government of Nigeria.
Presiding judge, Justice Dehinde Dipeolu, gave the ruling on Tuesday, August 26, 2025, following a motion filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC). The motion was argued by the Commission’s counsel, H.U. Kofarnaisa.
This order follows an earlier interim forfeiture granted by Justice Chukwujekwu Aneke, which included a directive to publish the order in a national newspaper, giving any interested party an opportunity to contest the forfeiture.
Presenting the application for final forfeiture, Kofarnaisa relied on an affidavit sworn by EFCC investigating officer Nwike Fortune.
According to the affidavit, the EFCC had investigated a petition from NAPL alleging large-scale fraud involving General Mohammed and two others; Mr. Yusuf Abdullahi Abubakar and Mr. Kayode Oladipupo Filani.
The investigation revealed that while serving as NAPL’s MD from 2015 to 2020, General Mohammed allegedly sold off company assets and diverted the proceeds for personal enrichment.
“To conceal the proceeds of these unlawful activities,” the affidavit states, “he used the funds to acquire shares in several companies under the name of Awhua Resources Limited.”
The seized shares include;
National Aviation Handling Company – ₦115,567,906
Vitafoam Nigeria Plc – ₦81,901,651
University Press Plc – ₦40,155,291
Oando Plc – ₦2,000,000
Dangote Sugar Refinery – ₦1,000,000
Kofarnaisa argued that the shares, listed in Schedules A, B, and C of the EFCC’s application, were purchased with misappropriated funds and should be forfeited in the interest of justice.
In his ruling, Justice Dipeolu agreed with the EFCC’s submissions and ordered the final forfeiture of the shares to the Federal Government.
