Friday, 7 August 2015


Dr. Chimaroke Nnamani
Information reaching Tectono Business Review has it that the Enugu State Government has commenced moves to recover assets of four companies that belong to the thieving and murderous erstwhile governor, Dr. Chimaraoke Nnamani, which were taken over by the Federal Government by the order of a Lagos Federal High Court.

This decision was taken during the Enugu State Executive Council meeting, presided over by the Governor, Rt. Hon. Chief Ifeanyi Ugwuanyi, on Thursday. The engagement of a law firm to challenge the take-over of the assets by the Federal Government was approved. The companies in question are:
·         Renaissance University Teaching Hospital
·         Ceuna Communication Limited (owners of Cosmo FM)
·         Capital City Automobiles Nigeria Limited
·         Rainbownet Commnication Nigeria Limited.

We gathered that the assets are located across the five states in the South East. They include 22 duplex buildings in Ebeano Under Tunnel Estate now known as Fidelity Estate, in Enugu; Renaissance University Teaching Hospital, Enugu; Cosmos 105.5 FM digital station (Ceuna Communications); and Capital City Automobile Limited located at 12 Station Road, GRA, Enugu.

Others are properties of Hill Gate Investment – Plot No H12, H13, H14, H15, H21, H116, H188, Plot 10, Plot H11, Plot H16, Plot H17, Plot H18, Plot 19, Plot H20, Plot H49, Plot H50, Plot H117, CP/4 (HCR2), CP5 (HCR2) CP/6 (HCR2) CP/7 (HCR2) CP/8.

The forfeited assets also included several undeveloped properties/plots of land of Rainbownet Nigeria Limited in Enugu, Abakaliki, Aba, Owerri, Onitsha, Awka and Umuahia. Assets of Rainbownet Communication Limited, which include BTS, Microwave Avenue Radio, Rectifiere and a host of the equipment in various sites in Anambra State were also forfeited to the Federal Government.

Apart from the landed property, over N35m from the frozen bank accounts of the companies were equally forfeited to the Federal Government as a result of the court order.

It is graphical that the assets taken over by the Federal Government actually belong to Enugu State Government owing to the fact that part of its allocation was used in acquiring them. After the executive council meeting, the state Commissioner of Information, Dr. Godwin Udeuhele, communicated to newsmen that the engagement of the law firm was approved following a memorandum presented by the Attorney-General and Commissioner for Justice, Chief Miletus Eze.