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 to the Federal Government of Nigeria. The shares are linked to Major-General U.M. Mohammed (Rtd.), a former Managing Director of the Nigerian Army Properties Limited (NAPL).
The order followed a motion filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), through its lawyer H.U. Kofarnaisa. Earlier, Justice Chukwujekwu Aneke had directed the interim forfeiture and mandated publication in a national newspaper to allow any interested party to show cause why the assets should not be finally forfeited.
During proceedings, EFCC’s investigating officer, Nwike Fortune, testified that Mohammed, while serving as NAPL’s Managing Director between 2015 and 2020, fraudulently sold company properties and diverted the proceeds for personal use. To conceal the funds, he allegedly acquired shares in multiple companies, including Awhua Resources Limited, 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 urged the court to finally forfeit the shares, arguing they were acquired with proceeds of unlawful activities. Justice Dipeolu agreed, ruling that the shares be permanently forfeited to the Federal Government.
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