Federal High Court in Abuja forfeits N1.9bn shares, cash assets and luxury duplex linked to Chukwunyere Nwabuoku.

The Federal High Court in Abuja has ordered the final forfeiture of assets valued at billions of naira linked to former Acting Accountant General of the Federation, Chukwunyere Anamekwe Nwabuoku, following his conviction for money laundering and abuse of office.

Justice James Omotosho delivered the judgment on Wednesday, approving an application filed by the Economic and Financial Crimes Commission (EFCC) for the confiscation of N1.9 billion worth of shares, N288 million in cash assets, and a luxury five-bedroom duplex in Abuja connected to the convicted former AGF.
The court ruled that the assets were proceeds of unlawful activities and ordered that they be forfeited to the Federal Government. Nwabuoku had earlier been convicted and sentenced on March 23, 2026, on a nine-count charge involving money laundering and abuse of office.
After the conviction, the EFCC filed a Motion on Notice dated April 1, 2026, requesting the permanent forfeiture of all properties and funds listed in three separate schedules attached to the application.
The forfeited cash assets, amounting to N288,590,749, were traced to bank accounts belonging to Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arrafura Transnational Afro Ltd. The sum also included N220 million reportedly refunded by Nwabuoku into the EFCC Recovery Account domiciled with the Central Bank of Nigeria.
Also forfeited was a five-bedroom duplex located at No. 20 City Gate Estate, Kukwaba, Abuja.
In addition, the court ordered the forfeiture of stocks and shares acquired by the convict in several security companies, valued at N1,941,805,342 as of March 29, 2026.
Justice Omotosho stated that the court was satisfied that the assets were proceeds of unlawful activity, considering the earlier judgment that convicted the former Acting Accountant General.
The judge subsequently ordered that all the funds, property, and shares be permanently forfeited to the Federal Government of Nigeria.