Justice at last as Court orders forfeiture of Nnamani’s assets


Today, a Federal High Court in Lagos ordered the forfeiture of multi-billion naira assets belonging to 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 Fidelity Estate.

Rainbownet’s shares in Zenith Bank and GTB, with a combined account balance of N4.6m; as well as monies in its bank accounts worth about N34.8m. EFCC said it is awaiting details of balances in Rainbownet’s 10 accounts with Access Bank. Rainbownet’s undeveloped properties forfeited include 7 plots at Independence Layout; 567.96 Square meters (Sqm) at Abakpa; 574.96 Sqm at Emene and 2,951.98 Sqm at Achara Layout.

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 as those at Barracks (one plot), Nkpor (1088.644), Awada (465.14), Fegge (one plot); 2,200.06 square miles at Okpumo, Awka. 693.636Sqm of undeveloped property located opposite the War Museum, Umuahia.

Assets of Rainbownet 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. Chimaroke 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.

They’re arraigned on 105 counts of money laundering and economic crimes involving about N4.5b. Part of the laundered money was from the Excess Crude Oil Funds meant for some LGAs, which was transferred to Nnamani’s bank account in U.S. The crime was committed while Nnamani was governor between 1999–2007… ds is so unfair

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