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Breaking: Court Orders Forfeiture of N5bn worth of Shares Linked to Ex-Army Properties Director

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Justice Dehinde Dipeolu of the Federal High Court in Lagos on Tuesday ordered the final forfeiture of 245,568,137 shares, valued at over N5 billion, traced to Major General Umar Mohammed, former Group Managing Director of Nigerian Army Properties Limited (NAPL), and businessman Kayode Oladipupo Filani.

The order followed an application by the Economic and Financial Crimes Commission (EFCC), which alleged that the shares were acquired with proceeds of unlawful activities during Mohammed’s tenure as head of the Army’s property company.

EFCC counsel, Hanatu Kofanaisa, informed the court that a Special Court Martial had already convicted Mohammed on 14 of 18 counts bordering on stealing and related offences. She argued that the Commission had met all requirements for the interim forfeiture order, including publication in a national daily, and noted that no objection had been filed against the application.

After reviewing the motion, Justice Dipeolu held that the EFCC’s application was meritorious and ordered the shares permanently forfeited to the Federal Government, for the benefit of Nigerian Army Properties Limited.

The judge ruled that since the statutory conditions for final forfeiture had been satisfied and no opposition was raised, the application must succeed.

The application was brought under Section 44(2)(b) of the 1999 Constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The forfeited assets were held in accounts operated by Rowet Capital Management Limited and Resort Securities & Trust Limited, in the name of Awhua Resources Limited, a company linked to Mohammed.

Among the forfeited holdings are millions of shares in major companies including Cadbury Nigeria Plc, Conoil Plc, Dangote Sugar Refinery Plc, Eterna Plc, Flour Mills Plc, Japaul Gold & Ventures Plc, NASCON Allied Industries Plc, Oando Plc, University Press Plc, and Vitafoam Nigeria Plc. The stock portfolio also includes significant holdings in Nigerian Aviation Handling Company (NAHCO), PZ Industries, Transcorp, Okomu Oil Palm, May & Baker, Ecobank Transnational Incorporated, Union Bank of Nigeria, and Unilever Nigeria Plc.

According to EFCC investigations, properties belonging to the Nigerian Army were illegally sold under Mohammed’s leadership, with proceeds diverted into stock acquisitions to conceal the origin of the funds.

In support of the application, EFCC investigator Nwike Fortune deposed to an affidavit detailing how Mohammed abused his office. He stated:

“The Commission received a petition from Nigerian Army Properties Limited against FCCNAPL Properties Limited, Alhaji Muhammadu Dahiru Wada, Maj. Gen. U.M. Mohammed, Yusuf Abubakar Abdullahi and Kayode Oladipupo Filani. The petition chronicled how properties belonging to Nigerian Army Properties Limited were fraudulently sold without recourse to the Board of the company by Maj. Gen. Mohammed, who was the Managing Director at the time.”

He further explained that the proceeds from those sales were used to acquire the forfeited shares:

“Preliminary investigations revealed that proceeds of the sales of the properties were used in the acquisition of shares in different companies now sought to be finally forfeited. The stocks contained in the attached schedules were acquired with part of funds fraudulently obtained by Maj. Gen. Mohammed’s unlawful activities whilst Managing Director of Nigerian Army Properties Limited.”

The affidavit also disclosed that Mohammed, in an attempt to conceal the illicit funds, used his company, Awhua Resources Limited, to acquire the shares through accounts operated by Rowet Capital Management Limited and Resort Securities & Trust Limited.

The ruling comes after the EFCC had earlier secured the forfeiture of five properties also linked to Mohammed, following his conviction by a military court martial.

Crime & Justice

BREAKING: Two Chinese Directors Jailed 46 Years Each Over ₦3.4bn, $2.5m Crypto Fraud in Lagos

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Justice Daniel Osiagor of the Federal High Court in Lagos, on Wednesday, convicted and sentenced two Chinese nationals and directors of Genting International Co. Limited, Huang Haoyu, also known as Ken, and An Hongxu, to a cumulative 46 years’ imprisonment each, with an option of a ₦56 million fine, over a multi-billion-naira cybercrime and money laundering scheme.

The court also ordered the convicts to undertake three days of community service and directed that they be repatriated to their country of origin after serving their sentences and completing the community service.

The two were among 792 suspected internet and cryptocurrency fraud suspects arrested by the Economic and Financial Crimes Commission (EFCC) in Lagos in December 2024.

The second defendant, Audu Friday, however, pleaded not guilty to the charges and will face trial.

At the resumption of trial on Wednesday, counsel to the first and second defendants, Ms Bridget Omateno, informed the court that the two directors had decided to change their pleas from not guilty to guilty.

She recalled that on the last adjourned date, the court had been informed that counsel on record had been debriefed.

Although there was no plea bargain agreement, she said the first and third defendants applied to change their pleas and urged the court to direct that the charges be read to them afresh.

When the charges were re-read by the registrar, Huang Haoyu and An Hongxu pleaded guilty to the seven-count charge filed against them, while Audu Friday maintained his plea of not guilty.

Prosecution counsel, Bilkisu Buhari-Bala, urged the court to convict the two men in view of their admission. Buhari-Bala noted that the prosecution had earlier called two witnesses before the change of plea.

She told the court that the offences in counts one and two attract life imprisonment, while counts three and four carry 14-year jail terms.

“I humbly pray Your Lordship to impose the maximum sentence on the convicts in order to serve as a deterrent to the public,” she submitted.

She also urged the court to order the forfeiture of all items recovered during the investigation, including those located on Oyin Jolayemi Street and Bishop Oluwole Street in Victoria Island, as well as any investments traced to the first and third defendants, to the Federal Government.

In his judgment, Justice Osiagor convicted Huang Haoyu and An Hongxu and sentenced them to a cumulative 46 years’ imprisonment each, with an option of a ₦56 million fine.

The court further ordered that they undertake three days of community service and be repatriated after serving their sentences and completing the community service.

Proceedings are expected to continue against Audu Friday, who maintained his innocence.

In addition to sentencing the two convicts, the court ordered the forfeiture of extensive assets recovered from multiple locations in Victoria Island and Ikoyi to the Federal Government.

The items include 1,596 mobile phones, 2,120 office chairs, 544 office tables, 194 routers, 43 computer systems, a network server, 126 air-conditioning units, several generators and vehicles, hundreds of mattresses and bunk beds, thousands of SIM cards across different networks, and numerous other electronic devices and household items recovered from premises at No. 7 Oyin Jolayemi Street, Victoria Island; Plot 1220 Bishop Oluwole Street, Victoria Island; 54A A.J. Marinho Drive, Victoria Island; and No. 14A Modupe Alakija Crescent, Ikoyi.

According to the charge, the defendants were accused of conspiring in 2024 to wilfully access computer systems organised to seriously destabilise the economic and social structure of Nigeria by procuring and employing Nigerian youths to falsely represent themselves as foreign nationals for financial gain, contrary to the Cybercrimes (Prohibition, Prevention, Etc.) Act, 2015, as amended in 2024.

They were also accused of procuring individuals to retain $1,262,000 USDT in a Binance wallet and $1,300,203 USDT in a Bybit wallet—sums they reasonably ought to have known formed part of the proceeds of unlawful activity, namely fraud—contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.

The charge further alleged that between August and December 2024, they retained ₦3,407,824,740.78 in Genting International Co. Limited’s Union Bank account, funds believed to be proceeds of fraud.

They were also said to have transferred ₦913,922,740.29 to an account belonging to Duliang Pan, who is currently at large, and ₦106,950,000 to Lagos Oriental Hotel Limited.

Separate counts against Audu Friday and the company alleged unlawful foreign exchange transactions running into billions of naira, contrary to the Foreign Exchange Monitoring and Miscellaneous (Provisions) Act, as well as failure to submit required declarations to the Special Control Unit Against Money Laundering (SCUML).

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Crime & Justice

Police Foil Dispatch Officer’s Staged Kidnapping in Edo Over ₦1.3m Gambling Loss

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The Edo State Police Command has uncovered a staged kidnapping involving a 21-year-old dispatch officer who allegedly attempted to conceal a ₦1.3 million gambling loss.

The Police Public Relations Officer of the Command, Moses Yamu, disclosed the incident in a statement issued on Monday.

According to the statement, the case was reported on January 30, 2026, at about 4:00 pm, when one Moses Ekes informed the Okpella Police Division that his nephew, David Ekes, an employee of Dibecs Industry Limited, had been missing since January 27.

“On 30/01/2026 at about 1600hrs, one Moses Ekes ‘M’, of Dibecs Industry Limited, reported at the Okpella Police Division that his nephew, David Ekes ‘M’, aged 21 years, a dispatch officer with the company, dark in complexion, about 5ft tall, and fluent in Ijaw and English, had been missing since 27/01/2026 at about 2030hrs.

“The said David Ekes left his quarters alone on a black, unregistered motorcycle from Factory 2 to Factory 3, contrary to company policy, and was not seen or heard from thereafter. The motorcycle was later discovered parked along the road leading to Factory 3 and subsequently recovered to the company’s main office,” the statement read.

Following the report, operatives of the Okpella Police Division visited the scene, searched the surrounding bush and commenced an investigation.

However, in a twist, the police said information was received the following morning, January 31, at about 8:00 am, that the missing dispatch officer had returned on his own in a weakened state.

“He was taken to a hospital in Okpella, where police operatives visited and monitored his condition,” the statement added.

Upon his discharge, the suspect initially claimed that he had been kidnapped by three unidentified men who allegedly forced him to trek barefoot through the forest for more than three days, during which his Tecno Camon mobile phone was taken and funds withdrawn from his First Bank account.

However, police investigations revealed that the suspect had travelled to Abuja shortly after the incident, sold his mobile phone, lodged in a hotel, and staged his own kidnapping to cover up the missing funds.

“Discrete investigation has revealed that between 25/01/2026 and 26/01/2026, the suspect lost a total sum of ₦1,308,000.00 belonging to his company and a customer through online gambling on a visual sporty betting platform.

“He then immediately travelled to Abuja, sold his mobile phone, lodged in a hotel, and deliberately staged his own kidnapping to cover up the financial loss. The suspect has since confessed to the crime and will be arraigned in court to serve as a deterrent to others,” the police said.

Reacting to the incident, the Commissioner of Police in Edo State, Monday Agbonika, warned members of the public against false distress reports and criminal deception, noting that such actions waste critical security resources and undermine public trust.

He also cautioned young people involved in gambling to act responsibly, warning that addiction often leads to desperation and criminal behaviour.

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Crime & Justice

Police Arrest 24-Year-Old Over ₦48.5m Romance Fraud in Lagos

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The Airport Police Command has arrested a 24-year-old suspect, Precious Onudhona, over an alleged romance scam involving ₦48.5 million.

The suspect, a native of Delta State, was arrested on February 2, 2026, while attempting to board a flight from Lagos to Asaba, Delta State, following what the police described as “actionable intelligence.”

Confirming the arrest in a statement on Tuesday, the Police Public Relations Officer of the command, ASP Mohammed Adeola, said the suspect was apprehended by operatives of the Anti-Fraud Unit as part of the command’s sustained efforts to prevent criminal elements from exploiting the aviation environment.

Adeola stated, “The Anti-Fraud Unit of the Airport Police Command has arrested a 24-year-old suspect in connection with a large-scale fraud amounting to ₦48,500,000, equivalent to approximately $35,000.”

He disclosed that preliminary investigations showed the suspect became involved in fraudulent activities in 2023 after joining a syndicate specialising in romance-related scams.

According to him, “Investigations revealed that the syndicate targeted unsuspecting victims through social media platforms such as Facebook and Instagram, using false identities and deceptive narratives to defraud them.”

The police spokesperson added that the suspect allegedly posed as “Travis Kevin,” whom he described as “a white American medical doctor,” to gain the trust of his victims.

Adeola said, “The suspect fraudulently created a fake banking domain with fictitious account balances, which he used to solicit funds from victims under the guise of repaying them within a short period.”

He explained that the suspect claimed the funds were required for feeding and medical supplies after allegedly sustaining injuries in the line of duty, noting that the payments were received through cryptocurrency transactions.

Reacting to the development, the Commissioner of Police, Airport Police Command, CP Ogunbode Olufunke, ordered a comprehensive investigation into the case.

Adeola quoted the commissioner as saying, “A thorough and detailed investigation must be conducted to ensure justice is served and that all other members of the fraud syndicate are identified and apprehended.”

She further reaffirmed the command’s stance against criminal activities within airport facilities, stressing that “the aviation environment is a highly sensitive corridor that must not be exploited for unlawful activities.”

The police spokesperson added that the suspect would be transferred to the Interpol Section for further investigation and prosecution.

The arrest comes weeks after the command apprehended another suspected internet fraudster. It was reported earlier this month that operatives of the Airport Police Command arrested a 20-year-old suspect, Essien Akpama, for allegedly defrauding foreign victims—mostly in the United States—of about ₦1.25 billion and several high-end electronic gadgets.

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