Appeal Court Upholds Forfeiture of N293.9m Linked to Atewe

The Court of Appeal sitting in Lagos upheld the final forfeiture of N293.97 million, investment assets, and several properties linked to retired Major General Emmanuel Jebe Atewe. In a unanimous judgment delivered by Justice Boloukuromo Moses Ugo, the appellate court dismissed Atewe’s appeal and affirmed an earlier ruling by the Federal High Court that ordered the assets to be permanently forfeited to the Federal Government.

The forfeited assets include N293.97 million in cash, 30,000 MTN linked investment units managed by Stanbic IBTC Asset Management Limited, and various plots of land in Abuja and a commercial property in Yenagoa, Bayelsa State. The Economic and Financial Crimes Commission (EFCC) traced these assets to funds allegedly diverted from the Joint Task Force, Operation Pulo Shield.

The EFCC claimed that N8.537 billion meant for the task force was siphoned through proxies, with some funds used to acquire properties linked to Atewe. The court ruled that protections under the Armed Forces Act apply only to serving personnel, and civil forfeiture can proceed alongside criminal trials.

Atewe's appeal was dismissed for lacking merit.