Before his conviction, Nwude was the biggest shareholder in Union Bank
Plc, and had controlling shares in several banks and blue chip
companies. In a plea-bargain handled by the Economic and Financial
Crimes Commission (EFCC) Chief Nwude agreed to forfeit cash and property
to the tune of 120 million US dollars.
The agency seized several of his properties, including the popular
Febson Mall, Abuja, a glass tower in Ikoyi and choices cars. He is
believed to have tens of millions of dollars stashed in the accounts of
fronts in Nigeria and overseas.
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