A Federal High Court in Abuja has ordered the final forfeiture of assets linked to former Acting Accountant-General of the Federation, Chukwunyere Nwabuoku, following his conviction on money laundering and abuse of office charges.
Key Highlights:
- Federal High Court orders permanent forfeiture of assets linked to ex-Acting AGF Chukwunyere Nwabuoku
- Assets include shares valued at over N1.9 billion and cash assets exceeding N288 million
- Court also forfeits five-bedroom duplex in Abuja
- EFCC secured the forfeiture after tracing assets to alleged unlawful activities
- Justice James Omotosho rules assets were proceeds of crime
- Nwabuoku was earlier convicted over N868.46 million money laundering charges
- Former Acting AGF sentenced to 72 years imprisonment to run concurrently
Justice James Omotosho gave the ruling on Thursday after granting an application filed by the Economic and Financial Crimes Commission (EFCC), which sought the confiscation of assets traced to the former Acting Accountant-General of the Federation.
The court ordered the permanent forfeiture of shares valued at approximately N1,941,805,342 as of March 29, 2026, alongside cash assets worth over N288 million and a five-bedroom duplex located at No. 20 City Gate Estate, Kukwaba, Abuja.
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According to court documents, the affected assets were linked to several companies associated with Nwabuoku, including Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arrafura Transnational Afro Ltd.
Part of the forfeited funds included N220 million earlier refunded by the former AGF into the EFCC recovery account domiciled with the Central Bank of Nigeria.
In his judgment, Justice Omotosho held that the court was satisfied that the funds, shares, and landed property were proceeds of unlawful activities, especially considering the earlier conviction secured against the former public official.
The judge subsequently directed that all the forfeited assets be permanently handed over to the Federal Government.
Nwabuoku was convicted in March 2026 after the court found him guilty on a nine-count charge bordering on money laundering involving N868.46 million.
He was sentenced to eight years imprisonment on each of the nine counts, amounting to a cumulative 72 years jail term. However, the sentences are to run concurrently.
The EFCC had accused the former Acting AGF of using multiple companies to conceal and move funds suspected to be proceeds of illegal activities.
The anti-graft agency had earlier confirmed the conviction in a statement posted on X, describing the case as part of its ongoing anti-corruption crackdown targeting abuse of public office and financial crimes in Nigeria.
