Court orders forfeiture of N246m shares linked to retired army general

The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of shares worth over ₦246 million belonging to retired Nigerian Army General, Major-General U.M. Mohammed, to the Federal Government.

The ruling, delivered on Tuesday, August 26, 2025, by Justice Dehinde Dipeolu, came after the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC) filed a motion on notice before the court.

According to court documents, the forfeited assets consist of several units of shares valued at ₦246,305,544, traced to the former Managing Director of the Nigerian Army Properties Limited (NAPL).

Confirming the development, the EFCC said in a statement on its official social media platforms: “The Federal High Court sitting in Ikoyi, Lagos, presided over by Justice Dehinde Dipeolu, has ordered the final forfeiture of shares worth ₦246,305,544 linked to Major-General U.M. Mohammed (rtd), former Managing Director of Nigerian Army Properties Limited, to the Federal Government.”

The anti-graft agency argued that the funds used in acquiring the shares were proceeds of unlawful activities, and Justice Dipeolu granted the application after reviewing the evidence presented.

This ruling marks another significant victory for the EFCC in its ongoing crackdown on corruption and the recovery of public assets suspected to have been acquired illegally.

Major-General Mohammed (rtd.) previously served as the head of NAPL, a corporate arm of the Nigerian Army responsible for managing its real estate and related investments.

However, his tenure has faced scrutiny amid allegations of mismanagement and diversion of resources.

The judgment is expected to intensify conversations around accountability in Nigeria’s military-owned enterprises, which in recent years have been dogged by allegations of corruption.

The EFCC, meanwhile, reaffirmed its commitment to pursuing financial crimes without fear or favour, stressing that no individual, regardless of rank or position, is above the law.