Court Orders Final Forfeiture Of Duplex, N1.9bn Shares Linked To Ex-AG Anamekwe Nwabuoku

The Federal High Court in Abuja has ordered that assets linked to former Acting Accountant-General of the Federation, Anamekwe Nwabuoku, be permanently taken over by the federal government following his conviction.

The ruling comes after Nwabuoku was jailed in March for 72 years over money laundering offences.

Justice James Omotosho had found that the Economic and Financial Crimes Commission (EFCC) successfully proved its case against him.

He was convicted on nine different counts, with each count carrying an eight-year sentence.

Although this adds up to 72 years, the sentences will run at the same time.

Nwabuoku was arraigned on charges bordering on money laundering and fraud to the tune of N868.4 million.

Prosecutors said he worked with several companies, including Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arafura Transnational Afro Limited, to move funds believed to be proceeds of illegal activities.

On Wednesday, Justice Omotosho approved a fresh application by the EFCC requesting final forfeiture of the assets linked to the convicted former AGF.

The EFCC had asked the court to seize N1.9 billion worth of shares, N288 million in cash, and a luxury five-bedroom duplex in Abuja traced to him.

The judge ruled that shares in several security companies, valued at about N1.94 billion as of March 29, 2026, should also be confiscated.

He explained that the court was satisfied the properties were proceeds of crime, based on the earlier conviction.

With the ruling, all identified funds, properties, and shares belonging to the former accountant-general have now been permanently forfeited to the federal government.

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