The Federal High Court in Ikoyi, Lagos, on Tuesday, August 26, 2025, ordered the final forfeiture of 245,568,137 shares valued at over N5 billion, linked to Major General Umar Mohammed, former Group Managing Director of Nigerian Army Properties Limited (NAPL), and businessman Kayode Oladipupo Filani. Justice Dehinde Dipeolu granted the Economic and Financial Crimes Commission’s (EFCC) application, which alleged the shares, held through Awhua Resources Limited in accounts managed by Rowet Capital Management and Resort Securities & Trust, were acquired with proceeds of illegal activities during Mohammed’s tenure from 2015 to 2020.
EFCC counsel Hanatu Kofanaisa noted Mohammed’s prior conviction by a Special Court Martial in October 2023 on 14 of 18 counts, including stealing $1.476 million and N74 million from NAPL, with no objections filed against the forfeiture after public notice.
The shares, spanning companies like Cadbury Nigeria Plc, Oando Plc, Dangote Sugar Refinery, and Vitafoam Nigeria Plc, were allegedly purchased with funds from unauthorized sales of NAPL properties, including a jetty at Marina, Lagos, and a property in Ikoyi, as detailed in an affidavit by EFCC investigator Nwike Fortune.
The court ruled the forfeiture to the Federal Government for NAPL’s benefit, citing compliance with Section 44(2)(b) of the 1999 Constitution and Section 17 of the Advance Fee Fraud Act, 2006.
This follows Mohammed’s seven-year sentence and an order to refund $2.178 million and N1.65 billion, as well as the earlier forfeiture of five properties. The ruling marks a significant step in addressing high-profile corruption within military institutions.
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