Court Orders Final Forfeiture Of N1.9bn Shares Linked To Ex-AGF Nwabuoku
Justice James Omotosho of the Federal High Court sitting in Abuja on Wednesday, May 13, 2026 granted the final forfeiture of N1.9bn worth of shares, N288m and five bedroom duplex located at No 20 City Gate Estate, Kukwaba, Abuja linked to a former Acting Accountant General of the Federation, AGF, Chukwunyere Anamekwe Nwabuoku to the Federal Government.
Following his conviction and sentencing on March 23, 2026 on all 9- count charges for money laundering and abuse of office, the Economic and Financial Crimes Commission, EFCC, in a Motion on Notice dated April 1, 2026, applied for an order of the court to confiscate and forfeit all assets/properties describe in schedule 1,2,3.
Schedule 1 contains the funds in the following accounts: Temeeo Synergy Concept Limited , Turge Global Investment limited, Laptev Bridge Limited, Arrafura Transnational Afro Ltd and the sum of N220, 000, 000 in the EFCC Recovery Account domicile in the Central Bank Nigeria refunded by Chukwunyere Anamekwe Nwabuoku, totaling N288,590,749 (Two Hundred and Eighty Eight million, Five Hundred and Ninety thousand, Seven Hundred and Forty Nine Naira).
Schedule 2 contains a five Bedroom Duplex at N0 20 City Gate Estate Kukwaba Abuja.
Schedule 3 contains the total number of stocks acquired by the convict in various security companies with value totaling N1,941,805,342 (One Billion, Nine Hundred and Forty One Million, Eight Hundred and Five Thousand, Three Hundred and Forty Two naira) as at March 29, 2026.
At Wednesday`s ruling, Justice Omotosho held that the court found the assets (funds and property) as proceeds of unlawful activity following the judgment of March 23, 2026 and he thereby ordered that the assets be forfeited to the Federal Government of Nigeria.
