The Economic and Financial Crimes Commission has secured the final forfeiture of N1.9 billion worth of shares, N288 million, and a five-bedroom duplex linked to former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku.
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The forfeiture order was granted on Wednesday by Justice James Omotosho of the Federal High Court in Abuja, while the EFCC disclosed the development in a statement issued on May 14.
Nwabuoku was appointed Acting Accountant-General of the Federation by former President Muhammadu Buhari on May 22, 2022, to oversee the Office of the Accountant-General of the Federation.
What they are saying
According to the EFCC, Justice Omotosho granted the final forfeiture of assets linked to Nwabuoku, including shares valued at N1.9 billion, N288 million in funds, and a five-bedroom duplex located at No. 20 City Gate Estate, Kukwaba, Abuja, after determining that the assets were proceeds of unlawful activities.
- The anti-graft agency explained that following Nwabuoku’s conviction and sentencing on March 23, 2026, over a nine-count charge bordering on money laundering and abuse of office, it filed a Motion on Notice dated April 1, 2026, seeking the confiscation and forfeiture of the assets listed in different schedules before the court.
The EFCC said the court subsequently ruled in its favour after establishing a link between the assets and unlawful financial activities.
More details
According to court documents, Schedule One of the forfeited assets contains funds traced to accounts linked to Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arrafura Transnational Afro Ltd.
- The schedule also includes N220 million earlier refunded by Nwabuoku into the EFCC Recovery Account domiciled at the Central Bank of Nigeria.
- The total funds listed under the first schedule amounted to N288.59 million.
- Schedule Two consists of the five-bedroom duplex located at No. 20 City Gate Estate, Kukwaba, Abuja.
Meanwhile, Schedule Three contains stocks acquired by the convict in several security companies, valued at N1.94 billion as of March 29, 2026.
Delivering the ruling, Justice Omotosho held that the assets constituted proceeds of unlawful activities based on the earlier judgment delivered on March 23, 2026, and consequently ordered their final forfeiture to the Federal Government.
What you should know
The latest forfeiture order follows Nwabuoku’s conviction earlier this year in an alleged N868.46 million fraud case prosecuted by the EFCC.
- On March 23, Nairametrics reported that the former Acting Accountant-General of the Federation was convicted and sentenced over the corruption-related charges brought against him by the anti-graft agency.
Before the conviction, the EFCC had already secured the recovery of some assets linked to the former public official.
- In July last year, the commission disclosed that Nwabuoku refunded N220 million and relinquished a duplex connected to him as investigations into alleged advance fee fraud and abuse of office intensified.
Despite the recoveries, Nwabuoku had initially pleaded not guilty to the charges, while the criminal proceedings continued until his eventual conviction and sentencing earlier this year.
