Court orders final forfeiture of N246m shares linked to Ex-NAPL MD

The federal high court in Lagos has ordered the final forfeiture of shares worth more than N246 million traced to U.M Mohammed, former managing director of Nigerian Army Properties Limited (NAPL), to the federal government.

Justice Dehinde Dipeolu delivered the ruling on Tuesday after hearing a motion filed by the Economic and Financial Crimes Commission (EFCC), Lagos zonal directorate 1, through its counsel, H.U Kofarnaisa.

The order followed an earlier interim forfeiture granted by Justice Chukwujekwu Aneke, which mandated the publication of the affected shares in a national newspaper to allow any interested parties to contest the application.

According to a statement by EFCC spokesperson Dele Oyewale, Kofarnaisa argued that the shares were proceeds of unlawful activities, citing evidence gathered during the agency’s investigation.

The EFCC said its probe was triggered by a petition from NAPL alleging large-scale fraud by Mohammed, alongside Yusuf Abdullahi Abubakar and Kayode Oladipupo Filani.

Investigators found that between 2015 and 2020, while serving as NAPL’s managing director, Mohammed sold off company properties and diverted the proceeds for personal gain.