Abuja, Nigeria – The Federal High Court ordered the final forfeiture of N3,444,000,000 and three properties tied to Salihu Nuhu Jamari, a former managing director at the Nigerian National Petroleum Corporation’s Gas and Power Investment Company Limited. The Naira sum is about $2.48 million using an exchange rate near N1,387 per US dollar.
Okay News reports the Economic and Financial Crimes Commission brought the case after receiving a petition alleging diversion of public funds at the Nigerian National Petroleum Company Limited. The court action follows an interim forfeiture order that allowed interested parties to show cause.
“Several investigative activities were carried out, during which it was discovered that Jamari, while serving as Managing Director of NGPIC, used his influence through his private companies—Cumulus Energy Limited and Pius and Phillips Petroleum Limited, where he is a director and signatory to the accounts—to receive kickbacks from three contractors awarded major projects by NNPCL,” the statement partly reads. The EFCC said the petition dated April 28, 2025, prompted the probe.
The assets listed include an uncompleted six-bedroom semi-detached duplex with boys’ quarters at Plot 3168, Asokoro District, Abuja, a two-bedroom flat at Apartment A1, Block EFG, Osborne Phase II, Ikoyi, Lagos, and a restaurant at Plot 102, Cadastral Zone C09, Lokogoma District, Abuja. The commission said those properties were linked to Jamari’s private companies.
The EFCC filed a motion on notice on March 17, 2026, and Justice J.O. Abdulmalik reviewed the application before granting final forfeiture on March 31, 2026. The court concluded the application had merit and ordered the assets forfeited to the Federal Government of Nigeria.
Earlier this month the EFCC handed over N3.9 billion recovered as proceeds of fraud to the Nigerian National Petroleum Company Limited, about $2.81 million at the same exchange rate. The handover formed part of broader litigation and recovery efforts tied to fund management at the state oil company.
The commission also arraigned two suspects over an alleged N603,400,000 job fraud linked to the company, a sum of about $435,000. The suspects face charges including fraud, obtaining money by false pretence, and forgery in the Federal Capital Territory High Court in Abuja.
Controversy over accountability at the Nigerian National Petroleum Company Limited has continued, with a 2017–2023 audit flagging N210 trillion in concerns, roughly $151.4 billion. The Senate has sought explanations while stressing oversight rather than alleging theft.
The final forfeiture closes a legal chapter for these specific assets, but investigators say further probes and recoveries may follow. Observers will watch how recovered funds are returned to the state and whether additional prosecutions result.
