Court Finalizes Forfeiture Of Ex-AGF’s ₦1.9 Billion Assets

The Federal High Court in Abuja has ordered the final forfeiture of assets valued in the billions of naira linked to former Acting Accountant General of the Federation (AGF), Chukwunyere Anamekwe Nwabuoku.

According to Ireporter Online, Justice James Omotosho delivered the ruling on Wednesday following an application by the Economic and Financial Crimes Commission (EFCC) seeking the permanent confiscation of properties traced to the convicted former AGF.

The court held that the affected assets were proceeds of unlawful activities and consequently ordered their forfeiture to the Federal Government.

The forfeited assets include shares valued at ₦1.9 billion, cash assets totaling ₦288.5 million, and a five-bedroom luxury duplex located at City Gate Estate, Kukwaba, Abuja.

Justice Omotosho noted that Nwabuoku had earlier been convicted and sentenced on March 23, 2026, on a nine-count charge bordering on money laundering and abuse of office.

Following the conviction, the EFCC filed a Motion on Notice dated April 1, 2026, seeking the permanent forfeiture of the identified assets.

Court documents revealed that the cash assets, amounting to ₦288,590,749, were traced to accounts linked to several companies, including Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arrafura Transnational Afro Ltd. The sum also includes ₦220 million reportedly refunded into the EFCC Recovery Account with the Central Bank of Nigeria.

In addition, the court ordered the forfeiture of stocks and shares acquired in several companies, valued at ₦1,941,805,342 as of March 29, 2026.

Justice Omotosho ruled that the court was satisfied the assets constituted proceeds of unlawful activity, relying on the earlier conviction of the former AGF. He thereafter ordered that all funds, properties, and shares be permanently forfeited to the Federal Government of Nigeria.