Court orders forfeiture of N5bn in shares linked to ex-Army General

The Federal High Court in Lagos has ordered the final forfeiture of N5 billion worth of shares linked to former Army General, Major General Umar Mohammed. The court granted the Economic and Financial Crimes Commission's (EFCC) application for the permanent seizure of the shares, which were allegedly acquired through unlawful activities during Mohammed's tenure as the Group Managing Director of Nigerian Army Properties Limited.

The shares were held in accounts operated by Rowet Capital Management Limited, Resort Securities Trust Limited, and Awhua Resources Limited, a company connected to Mohammed's associate, Kayode Oladipupo Filani. The court found that the EFCC had met all legal requirements for the final forfeiture, and ruled that the shares be permanently forfeited for the direct benefit of the Nigerian Army Properties Limited.

The extensive portfolio of forfeited shares includes holdings in prominent Nigerian companies such as Cadbury Nigeria Plc, Conoil Plc, and Dangote Sugar Refinery Plc. The case was initiated following a petition from the.