The Federal High Court in Lagos has ordered the final forfeiture of shares valued at N246.3 million linked to Major-General U.M. Mohammed (Retd.), a former Managing Director of the Nigerian Army Properties Limited (NAPL).
Justice Dehinde Dipeolu gave the ruling on Tuesday, August 26, 2025, following an application filed by the Lagos Zonal Directorate I of the Economic and Financial Crimes Commission (EFCC) through its counsel, H.U. Kofarnaisa.
The order comes after Justice Chukwujekwu Aneke had earlier directed the interim forfeiture of the shares and ordered their publication in a national daily to allow interested parties to show cause why they should not be permanently seized.
According to an affidavit filed in support of the application, EFCC investigations revealed that Mohammed, while serving as NAPL’s Managing Director between 2015 and 2020, fraudulently sold company properties and diverted proceeds for personal use. The funds were allegedly used to acquire shares in several companies through Awhua Resources Limited.
The shares include holdings in the National Aviation Handling Company (N115.6m), Oando Plc (N2m), Dangote Sugar Refinery (N1m), Vitafoam Nigeria Plc (N81.9m), and University Press Plc (N40.2m).
In his submission, Kofarnaisa argued that the assets were proceeds of unlawful activities and should therefore be forfeited to the Federal Government in the interest of justice.
Delivering judgment, Justice Dipeolu upheld the EFCC’s argument and ordered the final forfeiture of the shares as contained in the schedules presented before the court.
