Court orders interim forfeiture of assets linked to former REA directors

Court orders interim forfeiture of assets linked to former REA directors

 A federal high court in Abuja has ordered the interim
forfeiture of several properties linked to Suleiman Bulkwang and Abdullahi
Sambo, both former directors of the finance and account departments at the
Rural Electrification Agency (REA).

 

Obiora Egwuatu, the presiding judge, granted the order on
Thursday following an ex parte application filed by Martha Babatunde, counsel
to the Economic and Financial Crimes Commission (EFCC).

 

Among the seven properties affected by the forfeiture order
is a one-hectare plot of land in Ungwan Rere, Lafia LGA of Nasarawa state,
linked to Sambo.

 

Also listed are four units of two-bedroom flats in Kubwa,
Abuja, reportedly linked to Bulkwang.

 

The EFCC is investigating the REA over the alleged
misappropriation of N1.4 billion.

 

According to the commission, Sambo personally benefitted to
the tune of N742 million, allegedly used to acquire some of the forfeited
assets.

 

In the motion marked FHC/ABJ/CS/825/2025, the EFCC sought
the interim forfeiture on the grounds that the properties are suspected to have
been acquired with proceeds of unlawful activity.

 

 

The commission also requested the court to direct that the
interim order be published in a national newspaper, inviting any interested
parties to show cause within 14 days why a final forfeiture order should not be
granted in favour of the federal government.

 

Supporting affidavits filed by the EFCC alleged that in
March 2023, Sambo informed the REA staff members under his department that
funds would be transferred to their accounts for a supposed “project
supervision and monitoring” exercise.

 

The staff were allegedly instructed to remit the money after
receipt.

 

The EFCC stated that seven REA staff members, in their
statements, confirmed receiving directives from Sambo to process payments
through the government integrated financial management information system
(GIFMIS) platform.

 

 

Between March and June 2023, the EFCC alleged that Sambo
directed the disbursement of N1,481,389,518.11 to various bank accounts
belonging to seven staff members in the finance department, including his own
and that of his personal assistant, Usman Kwakwa.

 

The payments, according to the commission, were made without
the required approval of the managing director or the preparation and auditing
of payment vouchers by the audit department.

 

The commission further alleged that upon receiving the
funds, Kwakwa was instructed by Sambo to redistribute the money to bureau de
change operators, senior staff of the agency, the director himself, and other
associates.

 

“Mr. Sambo personally benefitted from the total sum of
N742,486,700.00 from REA through his staff, most of which was used to acquire
identified properties through his ally Danmama Mohammed,” EFCC alleged.

 

 

The agency also informed the court that both Sambo and
Bulkwang have expressed willingness to forfeit the properties in question.

 

The EFCC described the case as a non-conviction-based asset
forfeiture proceeding.

 

According to NAN, the Independent Corrupt Practices and
Other Related Commission (ICPC) is currently prosecuting some of the staff
members involved in the alleged fraud, including Sambo, at different federal
high courts.

 

The EFCC had, in November 2024, arraigned Bulkwang before
Joyce Abdulmalik, a judge, on a five-count charge bordering on alleged money
laundering amounting to N223,412,909.

 

President Bola Tinubu had, in March 2024, approved the
indefinite suspension of Ahmad Ahmad as the managing director and chief
executive officer (MD/CEO) of the REA, alongside three executive directors of
the agency.

Source: Court orders interim forfeiture of assets linked to former REA directors

 - NigerianEye
Invest in US dollars: https://hashflare.io/r/CF2F6691