Judiciary Mandates Confiscation of N245 Million Shares Linked to Senior Military Officer
The Economic and Financial Crimes Commission (EFCC) has asserted that shares valued at N245,568,137 were acquired through illicit funds during the period when Mr. Mohammed served as the chief executive of the Army’s property management firm.
Background of the Case
During Mr. Mohammed’s leadership of the military’s real estate company, it is alleged that the shares in question were bought using money obtained from unlawful activities. This claim forms the basis of the EFCC’s investigation and subsequent legal action.
Legal Outcome and Implications
Following a thorough judicial review, the court has decreed the forfeiture of these shares, reinforcing the government’s commitment to combating corruption within the armed forces. This ruling serves as a significant precedent in the ongoing efforts to recover assets acquired through corrupt means.
Contextualizing the Issue
Corruption within military institutions remains a critical challenge in Nigeria, with recent reports indicating that over N10 billion in assets have been seized from various officials in the past year alone. The EFCC’s proactive stance in cases like this underscores the increasing pressure on public servants to maintain transparency and accountability.
Source: Premium Times Nigeria
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