Court orders final forfeiture of N1.9bn, N288m cash, duplex linked to former AGoF

The Federal High Court in Abuja has ordered the final forfeiture of assets linked to a former acting accountant-general of the federation (AGF) Anamekwe Nwabuoku.

The assets include N1.9 billion worth of shares, N288 million cash, and a luxury five-bedroom duplex in Abuja.

The court had sentenced the former AGF in March to 72 years imprisonment for money laundering.

James Omotosho, the judge, had held that the Economic and Financial Crimes Commission (EFCC) had proved its case against the defendant.

Nwabuoku was convicted on all nine counts and sentenced to eight years’ imprisonment on each count, amounting to a cumulative 72 years. The sentence will run concurrently.

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

The EFCC had accused Nwabuoku of conspiring with several companies, including Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arafura Transnational Afro Limited, to convert funds suspected to be proceeds of unlawful activities.

Omotosho, on Wednesday, granted the final forfeiture application of the EFCC.

The anti-graft agency had approached the court with an application seeking the confiscation of N1.9 billion worth of shares, N288 million cash assets, and a luxury five-bedroom duplex in Abuja traced to the convicted former AGF.

The presiding judge ordered the forfeiture of the shares acquired by the convict in several security companies, valued at N1,941,805,342 as of March 29, 2026.

Omotosho held that the court was satisfied that the assets constituted proceeds of unlawful activity, having regard to the earlier judgment convicting the former AGF.

He subsequently ordered that all the funds, property and shares be finally forfeited to the federal government.

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