Court has ordered the final forfeiture of N400m linked to Mikail Abdulraheem over alleged fraud.
NewsOnline Nigeria reports that the Federal High Court in Abuja has ordered the final forfeiture of N400 million allegedly linked to Mikail Abdulraheem to the Federal Government of Nigeria.
This Nigeria news platform understands that Justice Emeka Nwite granted the order after counsel to the Economic and Financial Crimes Commission (EFCC), Abba Muhammed (SAN), moved the motion for final forfeiture.
Delivering the ruling, Justice Nwite held that the application was meritorious and satisfied the legal requirements for forfeiture under Nigerian law.
“It is hereby ordered that the application is granted as prayed,” the judge ruled, directing that the sum of N400,000,000 paid at the instance of Abdulraheem to Cosgrove Investment Limited be forfeited to the federal government, having been reasonably suspected as proceeds of unlawful activities.
The ruling follows an earlier interim forfeiture order issued by the court on December 31, 2025, which was subsequently published in a national newspaper in January 2026, inviting any interested parties to contest the action.
In its application, the EFCC argued that the court had the statutory authority under the Advance Fee Fraud and Other Fraud-Related Offences Act, 2006, to grant the forfeiture, maintaining that the funds were linked to illicit financial activities.
Investigations by the anti-graft agency reportedly uncovered that the funds were tied to a luxury property project, a six-bedroom mansion located at Chatteaux Estate, Wuse II, Abuja valued at N400 million and associated with Aeronautical Engineering & Technical Services Limited (AETSL) and Cosgrove Investment Limited.
According to EFCC findings, AETSL, an organisation linked to the Nigerian Air Force transferred N122 million in two tranches to a company connected to Abdulraheem, Mofaza-Mafoz Nigeria Limited, during his time associated with the firm between 2012 and 2014.
The court’s decision effectively transfers ownership of the disputed funds to the federal government, marking a significant step in the EFCC’s ongoing efforts to recover assets suspected to be proceeds of corruption.
