NewStats: 3,263,788 , 8,181,398 topics. Date: Saturday, 07 June 2025 at 10:07 PM 50163i

Court orders forfeiture of Ex-Gov Nnamani’s assets

The Federal High Court in Lagos Tuesday ordered the forfeiture of multi-billion naira assets allegedly belonging to a former Enugu State Governor, Dr. Chimaroke Nnamani.

Among the forfeited assets are undeveloped properties and transmission equipment of Rainbownet Limited; properties of Hill Gate Investment Limited/Cuena Phones Limited; assets of Cosmo 105.5FM, and 22 duplexes at Ebeano Estate (now Fidelity Estate).

Others are Rainbownet’s shares in Zenith Bank and Guarantee Trust Bank, with a combined balance of N4.6million; as well as monies in its bank s worth about N34.8million.

The balances are in different s with GTBank (N313,700); Sterling Bank (N986,958); Ecobank (N24.5million); First City Monument Bank (N3.8million) and Zenith Bank (N761,156).

EFCC said it is awaiting details of balances in Rainbownet’s 10 s with Access Bank.
Rainbownet’s undeveloped properties forfeited include seven plots at Independence Layout; 567.96 Square meters (Sqm) at Abakpa; 574.96 Sqm at Emene and 2,951.98 Sqm at Achara Layout.

Others to be forfeited include thousands of square metres of properties at Abia State, namely Ogbor Hill (914.633), Abayi (one and half plots), Port Harcourt Road (1,856.449), Ariaria (640.32), Umuagari (573.263) and Assannetu (954.396), as well as Abakiliki, Ebonyi State (one plot).
Others are in Onitsha, Anambra State, such those at Barracks (one plot), Nkpor (1088.644), Awada (465.14), Fegge (one plot); as well as 2,200.06 square miles of land at Okpumo, Awka.

The company is also to lose 693.636 square meters of undeveloped property located opposite the War Museum, Umuahia.
Assets of Rainbownet Communications Limited, including Central Switch Room, Microwave Radio, Rectifier, Microwave Backhaul Transmission, among others at various locations in Anambra, Ebonyi, Enugu, Abia and Imo states are to be forfeited.

The former senator was charged along with his former aide, Sunday Anyaogu, and six firms – Rainbownet, Hillgate Nigeria, Cosmos FM, Capital City Automobile Nig Ltd, Renaissance University Teaching Hospital and Mea Mater Elizabeth High School.

Justice Mohammed Yunusa later split Nnamani’s trial from his co-accused as he was abroad receiving treatment.
EFCC re-arraigned them on 105 counts of money laundering and economic crimes involving about N4.5billion.

Part of the alleged laundered money was from the Excess Crude Oil Funds meant for some local government areas, including Aninri, Enugu South, Agwu, Igbo Etiti and Isi Uzor, which was allegedly transferred to Nnamani’s bank in the United States.

The crime was allegedly committed while Nnamani was governor between 1999 and 2007. The defendants pleaded not guilty.
However, after the trial was split, four of the companies on May 19 pleaded guilty to a 10-count amended charge through their counsel.
The companies are Rainbownet, Cosmos FM, Capital City Automobile and Renaissance University Teaching Hospital.
They were alleged to have failed to comply with lawful inquiry made by the Commission.

On June 11, Justice Yunusa adjourned to July 7 for review of facts and sentences after EFCC’s lawyer Kelvin Uzozie told the court that he was still trying to get a list of all the companies’ assets.

He prayed the court to convict the companies in view of their plea after tendering some documents, including the assets’ schedule.
He also urged the court to make an order of the assets’ forfeiture, and for the commission to be involved in their management.
The companies’ lawyer Mr Ifeanyi Ezeome, during the alucutus (plea for mercy), urged the court ‎temper justice with mercy since they were first offenders.

Justice Yunusa, said a company can be treated as a natural person in law and held that: “It is hereby ordered that the properties listed in the schedule be forfeited to the Federal Government.”
He adjourned till November 12 for the trial of the remaining accused persons.

http://thenationonlineng.net/new/court-orders-forfeiture-of-nnamanis-assets/

Great.. Sai Buhari

"The companies’ lawyer Mr Ifeanyi Ezeome, during the alucutus (plea for mercy), urged the court ‎temper justice with mercy since they were first offenders"....Justice Yunusa should have dealt with this lawyer decisively for this thrash statement.

Meanwhile, Igbo Kwenu..yahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

cc: lalasticlala

na dis one we dey talk.... peeps are dying like fowl.... fowl sef get high life expectancy human beings for nija....

Nigerians have been severly RAPED, jst see his "less than 10percent known assets

Thank you GEJ for prosecuting Nnamani. Thank you Chime for cooperating with the EFCC. The Judge however erred by transferring the said properties to the FG instead of Enugu state government.


When will Buhari start his own probe of corrupt officials?

Chai, good move tho

I smh for the nigeria system that allowed Rainbownet, cosmo fm to go aground during the prosecution of Nnamani

The assets were fraudulently acquired. Good start in the anti-corruption campaign.
This is the kind of justice required for mindless looters. Run them aground and send them begging for food.

Let the anti corruption war begin

When I said Buhari was Nigeria's political messiah, some doubted me. But the man has kept putting his critics in shame.

Nice one, the President of Aktion.

barcanista:
Thank you GEJ for prosecuting Nnamani. Thank you Chime for cooperating with the EFCC.


When will Buhari start his own probe of corrupt officials?

If the court had acquitted him this halfwit would be among the first to start railing against Buhari.

Same way you dimwits were attributing the Nuclear Plant deal and NNPC claim on refineries starting to work as GEJ's successes but turned around to accuse Buhari of planning to Endanger you with the Plant and apparently now blame Buhari for the failure of the Refineries to start working.

This idiotic rhetoric can only work for a while, let's see how you plan to downplay any future Buhari achievements.

Booked









































































.

About time. Dude was living lager than life, the curses Fr.mbaka showered on him are now manifesting.

Dat amount is too small

booked

Failed elements like Roch-ASS COCKROACHA, Mbadina-uju, Orji Uzo Alu and Eleche should be the ones to face this kinda stuff..

Good one. Thieves them all!

Nice move.

All governors should be probed

Cosmo FM: That made me "hate" EFCC. Why not transfer the radio to government, they just closed down the radio station. My favorite sports programme with Ralph just ended abruptly

When will Bells University of Technology, American University of Nigeria, etc be forfeited by their owners? Nation of witches and wizards.

Keneking:
Great.. Sai Buhari

"The companies’ lawyer Mr Ifeanyi Ezeome, during the alucutus (plea for mercy), urged the court ‎temper justice with mercy since they were first offenders"....Justice Yunusa should have dealt with this lawyer decisively for this thrash statement.

Meanwhile, Igbo Kwenu..yahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

cc: lalasticlala

U take a case started by gej istration n gv the victory to dullardiho yu must be hiigh on burukutu like dullardiho

Looks like EFCC is only effective in d south.
Cos non of Chiamoroke's colleagues in d north has had his trial concluded but Ibori,Alamesiagha,Igbiniedion etc have all had their trials concluded.

It's Enugu State money and should be forfeited to Enugu State.

The judge was wrong.

Enugu State government should in the case as an interested party

SAI BABA!!!!!! THIS IS WHAT WE WANT HIM TO BE ON!!!!


WE WILL RECOVER OUR STOLEN FUNDS !! YESKE!!

HE WILL FORFEIT MORE THAT ARE ED THROUGH PROXIES!

So far pmb anti corruption campaign has been pointing only to the South east (igbos) alone. The people are watching.

ApcSucks:



U take a case started by gej istration n gv the victory to dullardiho yu must be hiigh on burukutu like dullardiho

I'm sure the current economic crisis also started under GEJ but you prefer to blame Buhari for it huh? Fvckng hypocrite!

arbitter:


If the court had acquired him this halfwit would be among the first to start railing against Buhari.

Such sycophancy is sickening that u sometimes wonder if some Tanoids here av any sense at all.
This was a trial that was started way before GEJ assumed power and has ended with these earthshaking forfeitals because the incumbent has through his body language forced everyone to do their jobs properly:from the EFCC to judges and others.
I bet if GEJ had been in power,this man would have found it easy to compromise the EFCC and d judge,many staff of whose agencies have themselves become multimillionaires from striking bargains with offenders under prosecution.
Sometimes replying these people is even a let down on its own because their GEJ arse licking despite all his atrocities, doesn't make sense at all.

otil1:
It's Enugu State money and should be forfeited to Enugu State.

The judge was wrong.

Enugu State government should in the case as an interested party

Yes this is the truth!!

It is Enugu's money and should be remitted to Enugu and used by Enugu people!!

Remitting to FG is a very wrong step.

I don't think the money will be remitted to FG sha!!

Dis one no be chere ka m bia.

Is this man not going to jail?
I dont understand. please lawyers does it mean the
end of case for Nnamani?

And the majority are poor