Court Orders Nnamani’s Companies To Forfeit Assets To FG

A Federal High Court in Lagos on Tuesday ordered the forfeiture of multi-billion naira assets allegedly owned by former Enugu State Governor Dr Chimaroke Nnamani, to the Federal Government.The forfeited assets are undeveloped properties and transmission equipment of Rainbownet Nigeria Limited; properties of Hill Gate Investment Limited/Cuena Phones Limited; assets of Cosmo 105.5FM, and 22 duplex buildings at Ebeano Estate (now Fidelity Estate). ‬
Other assets to be forfeited  are Rainbownet shares in Zenith Bank and Guaranty Trust Bank, with a combined account balance of N4.6 million; as well as monies in its bank accounts.
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The balances in different accounts with GTBank (total of N313,700); Sterling Bank (N986,958); Ecobank (N24.5 million); First City Monument Bank (N3.8 million) and Zenith Bank (N761,156) are also to be forfeited.
The Economic and Financial Crimes Commission (EFCC) which is prosecuting Nnamani for alleged money laundering, said it is awaiting details of balances in Rainbownet’s 10 accounts with Access Bank.
‬The former governor who later became senator of the Federal Republic of Nigeria was arraigned alongside  his former aide, Sunday Anyaogu, and six  companies Rainbownet, Hillgate Nigeria, Cosmos FM, Capital City Automobile Nig Ltd, Renaissance University Teaching Hospital and Mea Mater Elizabeth High School.