Ex-REA directors, Suleiman Bulkwang, Abdullahi Sambo forfeit assets to FG

A Federal High Court in Abuja has ordered the interim forfeiture of several properties traced to Suleiman Bulkwang and Abdullahi Sambo, both former directors in the finance and accounts departments of the Rural Electrification Agency (REA).

Justice Obiora Egwuatu granted the forfeiture order on Thursday following an ex parte application filed by Martha Babatunde, counsel to the Economic and Financial Crimes Commission (EFCC).

Among the seven assets affected is a one-hectare plot of land in Ungwan Rere, Lafia LGA of Nasarawa State, linked to Sambo.

Also included are four units of two-bedroom flats in Kubwa, Abuja, reportedly linked to Bulkwang.

The EFCC is investigating the REA over the alleged misappropriation of N1.4 billion.

According to the anti-graft agency, Sambo allegedly benefitted directly from N742 million, which was used to purchase some of the properties now under forfeiture.

In suit number FHC/ABJ/CS/825/2025, the EFCC argued that the assets were suspected to have been acquired with proceeds of unlawful activity.

The commission also requested the court to order that the interim forfeiture be published in a national daily, inviting interested parties to show cause within 14 days why a final forfeiture order should not be issued in favour of the federal government.

According to affidavits filed by the EFCC, in March 2023, Sambo informed REA staff that money would be transferred to their accounts under the guise of a “project supervision and monitoring” exercise.

The staff were then directed to remit the funds upon receipt.

Statements from seven REA staff members confirmed they were instructed by Sambo to process payments through the Government Integrated Financial Management Information System (GIFMIS) platform.

Between March and June 2023, the EFCC said Sambo directed the disbursement of N1,481,389,518.11 to various bank accounts belonging to the staff, including his own and that of his personal assistant, Usman Kwakwa.

The commission noted that the payments were made without the approval of the managing director or due auditing by the agency’s audit department.

According to the EFCC, once the funds were disbursed, Kwakwa was instructed by Sambo to redistribute the money to bureau de change operators, senior REA staff, Sambo himself, and other associates.

“Mr. Sambo personally benefitted from the total sum of N742,486,700.00 from REA through his staff, most of which was used to acquire identified properties through his ally Danmama Mohammed,” the EFCC stated.

The agency also told the court that both Sambo and Bulkwang have expressed willingness to forfeit the assets in question. The matter is being treated as a non-conviction-based asset forfeiture proceeding.

Meanwhile, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) is prosecuting some of the involved REA staff, including Sambo, at different Federal High Courts.

Separately, the EFCC had, in November 2024, arraigned Bulkwang before Justice Joyce Abdulmalik on a five-count charge of alleged money laundering totalling N223,412,909.

President Bola Tinubu, in March 2024, approved the indefinite suspension of Ahmad Ahmad, managing director and chief executive officer of the REA, along with three executive directors of the agency.