A federal high court in Abuja has mandated the provisional forfeiture of various properties associated with Suleiman Bulkwang and Abdullahi Sambo, both former directors of the finance and accounts departments at the Rural Electrification Agency (REA).
Presiding Judge Obiora Egwuatu issued the order on Thursday, following an ex parte application submitted by Martha Babatunde, legal representative for the Economic and Financial Crimes Commission (EFCC).
Among the seven properties subject to the forfeiture order is a one-hectare plot situated in Ungwan Rere, Lafia LGA, Nasarawa State, linked to Sambo. Additionally, four two-bedroom flats in Kubwa, Abuja, reportedly tied to Bulkwang, are also included.
The EFCC is investigating the REA for the alleged misappropriation of N1.4 billion. The commission claims that Sambo personally profited by N742 million, which was purportedly used to acquire some of the forfeited assets.
In the motion marked FHC/ABJ/CS/825/2025, the EFCC requested the interim forfeiture on the grounds that the properties are suspected to have been acquired through unlawful means.
The commission also sought the court’s direction to publish the interim order in a national newspaper, inviting any interested parties to contest within 14 days why a final forfeiture order should not be granted in favour of the federal government.
Affidavits submitted by the EFCC allege that in March 2023, Sambo informed REA staff under his department that funds would be transferred to their accounts for a supposed “project supervision and monitoring” exercise, instructing them to remit the money upon receipt.
The EFCC stated that seven REA staff members confirmed in their statements that they received directives from Sambo to process payments through the government integrated financial management information system (GIFMIS) platform.
Between March and June 2023, the EFCC alleges that Sambo directed the disbursement of N1,481,389,518.11 to various bank accounts belonging to seven finance department staff members, including his own and that of his personal assistant, Usman Kwakwa.
These payments were reportedly made without the necessary approvals from the managing director or the preparation and auditing of payment vouchers by the audit department. The commission further claimed that after receiving the funds, Kwakwa was instructed by Sambo to redistribute the money to currency exchange operators, senior agency staff, the director himself, and other associates.
“Mr. Sambo personally benefitted from a total of N742,486,700.00 from REA through his staff, most of which was utilised to acquire identified properties via his associate Danmama Mohammed,” the EFCC alleged.
The agency informed the court that both Sambo and Bulkwang have shown a willingness to forfeit the contested properties. The EFCC described this case as a non-conviction-based asset forfeiture proceeding.
According to NAN, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) is currently prosecuting several staff members involved in the alleged fraud, including Sambo, across various federal high courts.
In November 2024, the EFCC arraigned Bulkwang before Judge Joyce Abdulmalik on five counts related to alleged money laundering totalling N223,412,909.
In March 2024, President Bola Tinubu approved the indefinite suspension of Ahmad Ahmad as the managing director and chief executive officer (MD/CEO) of the REA, along with three executive directors of the agency.
