Former NNPC Director to forfeit N1.6 bn Dubai properties

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A former managing director of the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation, Mr. Haruna Momoh will forfeit nine Dubai properties to the Federal Government.

According to a PUNCH report, the properties worth approximately $400,000 to $700,000 each, are said to be worth a total of N1.6 billion.

The properties, which are located in highbrow areas of Marina, Sheikh Zayed Road, Tecom, and Sports City, are homes to some of the richest personalities in the world, according to the Economic and Financial Crimes Commission (EFCC).

The properties are Unit 1402 PS, 14th Floor, located at Metro Central, Tecom, near Internet City Metro Station, Dubai, UAE; Unit 712 ES, 7th Floor, located at First Central, off Sheikh Zayed, Tecom, Al Barsha 3 Dubai, UAE; and Unit 512, 5th Floor, located at First Group, Marina Hotels, Al Seba Street, Plot 394-426 Dubai AE-AJ, UAE.

Unit 503 1 Bedroom Heritage, 5th Floor, located at First Central, Dubai Media City, Tecom, off Sheikh Zayed Tecom, Al Barsha 3, Dubai, UAE; Unit 1910 ES Heritage, 19th Floor, located at First Central, Dubai Media City, Tecom, off Sheikh Zayed Tecom; Unit 2507 Dubai Sports City; Unit 314 Dubai Sports City; and Unit 1002, Tecom Barsha 125616.

An EFCC source told PUNCH, “We have informed the UAE authorities that from our investigation, we believe Momoh acquired those properties through corrupt means. The whole process is still ongoing but with the MLAT, signed by President Buhari, it has made work a lot easier for us.

“The AGF is expected to write the UAE for the forfeiture of the properties after which they would be sold off and the proceeds returned to Nigeria.”

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