Justice Mohammed Yunnusa of a Federal High Court sitting in Lagos, on Tuesday,ordered that a former Enugu State governor, Dr Chimaroke Nnamani, should forfeit his assets.
Among the forfeited assets are undeveloped properties and transmission equipment of Rainbownet Nigeria Limited; properties of Hill Gate Investment Limited/Cuena Phones Limited; assets of Cosmo 105.5FM, and 22 duplex buildings at Ebeano Estate (now Fidelity Estate).
Others are Rainbownet shares in Zenith Bank and Guaranty Trust Bank, with a combined account balance of N4.6million; as well as monies in its bank accounts.
The balances in different accounts with GTBank of N313,700; Sterling Bank ,N986,958; Ecobank ,N24.5million; First City Monument Bank, N3.8million and Zenith Bank, N761,156.
EFCC said it is awaiting details of balances in Rainbownet’s 10 accounts with Access Bank.
The former senator was charged alongside his former aide, Sunday Anyaogu, and six firms - Rainbownet, Hillgate Nigeria, Cosmos FM, Capital City Automobile Nigeria Limited, Renaissance University Teaching Hospital and Mea Mater Elizabeth High School.
Justice Yunusa later split Nnamani’s trial from his co-accused as he was abroad receiving treatment.
EFCC had re-arraigned them on 105 counts of money laundering and economic crimes, involving about N4.5billion state funds.
Part of the alleged laundered money was from the excess crude oil funds meant for some local government areas, including Aninri, Enugu South, Agwu, Igbo Etiti and Isi Uzor, which was allegedly transferred to Nnamani’s bank account in the United States.
The crime was allegedly committed while Nnamani was governor between 1999 and 2007.
The defendants pleaded not guilty.
However, after the trial was split, four of the companies on May 19, pleaded guilty to a 10-count amended charge through their counsel.
The companies are Rainbownet, Cosmos FM, Capital City Automobile and Renaissance University Teaching Hospital.
They were alleged to have failed to comply with lawful inquiry made by the commission.


Chris Kehinde Nwandu is the Editor In Chief of CKNNEWS || He is a Law graduate and an Alumnus of Lagos State University, Lead City University Ibadan and Nigerian Institute Of Journalism || With over 2 decades practice in Journalism, PR and Advertising, he is a member of several Professional bodies within and outside Nigeria || Member: Institute Of Chartered Arbitrators ( UK ) || Member : Institute of Chartered Mediators And Conciliation || Member : Nigerian Institute Of Public Relations || Member : Advertising Practitioners Council of Nigeria || Fellow : Institute of Personality Development And Customer Relationship Management || Member and Chairman Board Of Trustees: Guild Of Professional Bloggers of Nigeria

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