Dehinde Dipeolu, the presiding judge, gave the order on Tuesday following a motion on notice filed by the Economic and Financial Crimes Commission (EFCC) through its counsel, H.U. Kofarnaisa.

Chukwujekwu Aneke, a judge, had earlier granted an interim forfeiture of the shares and directed their publication in a national newspaper to enable interested parties to show cause why they should not be permanently forfeited.

While moving the application for final forfeiture, Kofarnaisa relied on an affidavit sworn to by EFCC investigator, Nwike Fortune.

In the affidavit, Nwike detailed findings from a petition by NAPL alleging fraud against Mohammed and others.

Investigations, he said, revealed that between 2015 and 2020; while serving as NAPL’s managing director, Mohammed fraudulently sold company properties and diverted the proceeds for personal use.

He allegedly invested part of the misappropriated funds in shares through Awhua Resources Limited in a bid to conceal the illicit proceeds.

The shares traced to him 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 and University Press Plc – N40,155,291

Submitting that the assets were acquired with proceeds of unlawful activities, Kofarnaisa urged the court to grant the final forfeiture.

In his ruling, Dipeolu held that the EFCC had made a meritorious case and accordingly ordered that the shares be finally forfeited to the federal government.

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