A Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of shares worth N246.3 million linked to Major-General U.M. Mohammed (retd.), former Managing Director of Nigerian Army Properties Limited (NAPL).
The ruling, delivered by Justice Dehinde Dipeolu on Tuesday, August 26, 2025, follows an investigation by the Economic and Financial Crimes Commission (EFCC).
The EFCC revealed that Mohammed, during his tenure from 2015 to 2020, fraudulently sold NAPL properties and used the proceeds to buy shares through Awhua Resources Limited to hide the illicit funds.
The forfeited shares include stakes in major companies like National Aviation Handling Company (N115.6m), Vitafoam Nigeria Plc (N81.9m), University Press (N40.2m), Oando Plc (N2m), and Dangote Sugar Refinery (N1m).
The court’s decision came after the EFCC, represented by lawyer H.U. Kofarnaisa, filed a motion supported by an affidavit from investigator Nwike Fortune.
The affidavit detailed how Mohammed, along with Yusuf Abdullahi Abubakar and Kayode Oladipupo Filani, misappropriated NAPL funds.
An earlier interim forfeiture order by Justice Chukwujekwu Aneke was published in a national newspaper, with no objections raised.
Justice Dipeolu ruled that the EFCC’s evidence was compelling and ordered the shares permanently forfeited to the Federal Government of Nigeria, stating it was in the interest of justice.
This ruling follows Mohammed’s conviction by a Special Court Martial in October 2023 on 14 counts of stealing, forgery, and conspiracy, where he was sentenced to seven years in prison and ordered to refund $2.18 million and N1.65 billion to NAPL and the Nigerian Army.
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