Lagos, Nigeria – August 27, 2025
The Federal High Court in Lagos has ordered the final forfeiture of 245,568,137 shares, valued at over ₦5 billion, traced to Maj. Gen. Umar Mohammed (retd.), former Group Managing Director of Nigerian Army Properties Limited (NAPL), and businessman Kayode Oladipupo Filani.
Delivering judgment on Tuesday, Justice Dehinde Dipeolu granted the application filed by the Economic and Financial Crimes Commission (EFCC), which alleged that the shares were acquired with proceeds of unlawful activities during Mohammed’s tenure at the Army’s property company. The court noted that no objections were filed against the application and therefore held that the EFCC had established sufficient grounds for the forfeiture.
Justice Dipeolu consequently ordered that the shares be permanently forfeited to the Federal Government for the benefit of NAPL. The portfolio includes holdings in several publicly listed firms such as NAHCO, Cadbury Nigeria, Dangote Sugar, Vitafoam, and Oando.
The EFCC further recalled that Mohammed had earlier been convicted by a military court-martial on 14 out of 18 counts, with several properties previously forfeited to the government.