Justice Dehinde Dipeolu of the Federal High Court, Ikoyi, Lagos, has ordered the final forfeiture of shares worth over N246 million linked to a former Managing Director of the Nigerian Army Properties Limited (NAPL), Major-General U.M. Mohammed (rtd), to the Federal Government of Nigeria.
The ruling, delivered on Tuesday, August 26, 2025, followed a motion on notice filed by the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, the forfeited assets were several units of shares valued at N246,305,544, traced to the retired general. The anti-graft agency confirmed the development in a post released on its official social media platforms on Tuesday.
The commission wrote: “The Federal High Court sitting in Ikoyi, Lagos, presided over by Justice Dehinde Dipeolu, has ordered the final forfeiture of shares worth N246,305,544 linked to Major-General U.M. Mohammed (rtd), former Managing Director of Nigerian Army Properties Limited, to the Federal Government.”
Justice Dipeolu granted the application after the EFCC established that the funds used in acquiring the shares were proceeds of unlawful activities.
