(DDM) – A Federal High Court in Ikoyi, Lagos, has ordered the permanent forfeiture of shares worth N246.3 million linked to retired Major-General U.M. Mohammed, a former Managing Director of Nigerian Army Properties Limited (NAPL).
Diaspora Digital Media (DDM) gathered that Justice Dehinde Dipeolu issued the ruling on Tuesday, August 26, 2025, following a motion on notice filed by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
Court Decision and EFCC’s Evidence
The EFCC, represented by counsel H.U. Kofarnaisa, argued that the shares were purchased to conceal proceeds of unlawful activities committed by Mohammed during his tenure as NAPL boss between 2015 and 2020.
In an affidavit, EFCC investigator Nwike Fortune revealed that Mohammed fraudulently sold company properties and diverted the proceeds into personal investments, acquiring shares in Awhua Resources Limited with the misappropriated funds.
The shares include:
- National Aviation Handling Company – N115,567,906
- Oando Plc – N2,000,000
- Dangote Sugar Refinery – N1,000,000
- Vitafoam Nigeria Plc – N81,901,651
- University Press – N40,155,291
Justice Dipeolu, after reviewing evidence, ordered that the shares listed in Schedules A, B, and C be permanently forfeited to the Federal Government of Nigeria.
Background of the Case
DDM recalls that in June 2024, SaharaReporters revealed that Nigerian Army authorities had issued a warrant to commit Mohammed to prison, following irregularities in his earlier detention.
The ex-general had been court-martialed in October 2023 and sentenced to seven years imprisonment after being found guilty of stealing over $430,000, forgery, conspiracy, and unauthorised diversion of Army properties.
The Special Court Martial also ordered Mohammed to refund $2,178,900 and N1.65 billion to the Nigerian Army and NAPL.
Buratai’s Alleged Involvement
Sources disclosed that during the court-martial proceedings, Mohammed implicated former Chief of Army Staff, Lt. Gen. Tukur Buratai (retd.), alleging that Buratai approved the sale of NAPL houses to politicians and VIPs at a 75% discount.
Implications
With the court’s latest ruling, all shares linked to Mohammed are now officially seized, marking another major victory for the EFCC in asset recovery cases involving high-ranking military officers.