Court Grants Final Forfeiture of ₦1.9bn Worth of Shares Linked to Former AGF, Nwabuoku

Justice James Omotosho of the Federal High Court sitting in Abuja on Wednesday, May 13, 2026, granted the final forfeiture of shares worth ₦1.9 billion, ₦288 million, and a five-bedroom duplex located at No. 20, City Gate Estate, Kukwaba, Abuja, linked to 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 nine-count charges bordering on 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 and properties listed in Schedules 1, 2, and 3.

Schedule 1 contains funds in the accounts of Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, Arrafura Transnational Afro Ltd, and the sum of ₦220,000,000 in the EFCC Recovery Account domiciled with the Central Bank of Nigeria, refunded by Chukwunyere Anamekwe Nwabuoku, totalling ₦288,590,749 (Two Hundred and Eighty-Eight Million, Five Hundred and Ninety Thousand, Seven Hundred and Forty-Nine Naira).

Schedule 2 contains a five-bedroom duplex located at No. 20, City Gate Estate, Kukwaba, Abuja.

Schedule 3 contains the total number of stocks acquired by the convict in various securities companies, valued at ₦1,941,805,342 (One Billion, Nine Hundred and Forty-One Million, Eight Hundred and Five Thousand, Three Hundred and Forty-Two Naira) as of March 29, 2026.

In his ruling on Wednesday, Justice Omotosho held that the court found the assets, including the funds and property, to be proceeds of unlawful activities following the judgment delivered on March 23, 2026. He consequently ordered that the assets be finally forfeited to the Federal Government of Nigeria.