EFCC investigates Army’s Properties MD over shady shares, properties acquisition
The army general was accused of using cronies to corner hundreds of Federal Government properties in Lagos, Abuja, Port Harcourt and later diverting government revenues to the tune of over N20 billion to purchase shares in publicly quoted companies using AWHUA Resources, a company owned by himself under the alias ‘Malam Sheik Umaru Mohammed’ and his family.
InsideBusiness further gathered that Maj. Gen. Mohammed also massively invested in companies such as UAC, Okumo Oil, Vitafoam, Nahco Plc, Dangote Sugar, UBA and several others.
AWHUA Resources, which is 80% owned by Umaru Mohammed, is a major player in the Nigerian Capital Market for several years.
In a letter addressed to one of the publicly quoted companies in the Nigerian Capital Market, Umaru Mohammed introduced himself as Chairman of AWHUA Resources Limited.
He stated that AWHUA owns 7.4 per cent interest in the company with a total of one hundred and five million ordinary shares which is valued at over N2 billion Naira.
The AWHUA letter goes further to state that “at the helm of affairs is our Chairman, Mallam Umaru Mohammed, a senior serving officer, who is presently attached to the Presidency as Chairman Task Force of the Presidential Implementation Committee on the Lease of Federal Government Landed property across the country.”
While requesting for a Board seat in several quoted companies for his nominee Captain Enyinna Okpara, Mohammed added that he is a senior serving officer with the Army.
While some companies accepted Mohammed’s nominee, others refused to accept his nominee to the board insisting on proper due diligence to be carried by the Nigerian Stock Exchange, the Securities and Exchange Commission and NFIU which led to a stalemate.
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