A Federal High Court in Lagos has ordered the permanent forfeiture of nearly 246 million shares in top Nigerian companies linked to retired Major General Umar Mohammed, a former Group Managing Director of Nigerian Army Properties Limited, and businessman Kayode Filani.
Justice Dehinde Dipeolu granted the application filed by the Economic and Financial Crimes Commission, which argued the shares were acquired with proceeds of unlawful transactions during Mohammed’s tenure. The commission said a Special Court Martial had already convicted him on multiple counts of theft and related offences.
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The judge ruled that, as statutory conditions had been met and no objections raised, the assets would revert to the federal government for the benefit of Nigerian Army Properties Limited.
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