The Economic and Financial Crimes Commission (EFCC) has officially transferred a number of forfeited properties linked to Rainbownet Nigeria Limited, a company allegedly owned by former Enugu State governor Chimaroke Nnamani, to the Asset Management Corporation of Nigeria (AMCON). The handover, which took place in Enugu, includes several real estate assets tied to alleged proceeds of crime.
According to a statement issued by the EFCC on Saturday, the properties handed over include one bungalow, one wire house, and three duplexes at No. 3/4 Pocket Estate in Independence Layout, Enugu; 12 rooms of a one-storey semi-detached building at No. 35B Abakaliki Road; and two six-room duplexes at No. 3A and No. 3C Mount Street, Park Avenue.
Representing EFCC Chairman Ola Olukoyede at the handover ceremony, Assistant Commander of the EFCC Aisha Abubakar reaffirmed the agency’s dedication to investigating and prosecuting economic and financial crimes. She noted that the EFCC will continue working closely with relevant stakeholders like AMCON to recover assets acquired through unlawful means. Abubakar also highlighted the Commission’s thriving Department of Proceeds of Crime Management as a key part of these efforts.
Responding on behalf of AMCON, Resolution Officer John Abuh expressed gratitude to the EFCC for its diligence in tracing and recovering the properties. He acknowledged the Commission’s role in making the assets available once AMCON was ready to take possession.
This handover follows a previous EFCC action on April 24, 2024, when 14 properties initially forfeited to the Federal Government were officially ceded to the government and people of Enugu State. The assets included residential buildings, broadcasting equipment, and a medical facility, all reportedly tied to former Governor Nnamani.
The case dates back to 2007 when Chimaroke Nnamani was first arraigned on charges of laundering N5 billion from the state treasury. A 2015 court judgment by Justice Mohammed Yinusa of the Federal High Court in Lagos convicted four companies—Rainbownet Nigeria Limited, Cosmos FM, Capital City Automobile Nigeria Limited, and Renaissance University Teaching Hospital—of laundering funds on Nnamani’s behalf. The companies had pleaded guilty to a 10-count amended charge, leading to the forfeiture of their assets to the Federal Government.
