/ Sep 30, 2026
/ Sep 30, 2026

Court orders final forfeiture of N1.9bn assets linked to ex-AGF  Nwabuoku

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A Anamekwe Nwabuoku-linked luxury duplex in Abuja and shares worth nearly N2 billion have been permanently forfeited to the federal government after a ruling by the Federal High Court.

 

The order, delivered by Justice James Omotosho, follows Nwabuoku’s earlier conviction over an N868.4 million fraud and money laundering case.

 

According to TheCable, the court granted an application by the Economic and Financial Crimes Commission seeking final forfeiture of assets traced to the former acting accountant-general.

 

The assets include a five-bedroom duplex in Abuja, cash worth N288 million and shares valued at N1,941,805,342 as of March 29, 2026. The court held that the assets were proceeds of unlawful activity and approved their transfer to the federal government.

 

Nwabuoku was sentenced in March to 72 years in prison after being found guilty on nine counts. The sentence will run concurrently, meaning he will serve the terms at the same time.

 

The EFCC had accused him of conspiring with companies including Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited and Arafura Transnational Afro Limited to convert funds believed to be proceeds of crime.

 

Justice Omotosho said the forfeiture order was based on evidence already established during the criminal trial, which resulted in the former AGF’s conviction.

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