Court orders final confiscation of N1.9 billion, N288 million cash, duplex linked to former AGoF

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

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

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

James Omotosho, the judge, stated that the Economic and Financial Crimes Commission (EFCC) had proven its case against the accused.

Nwabuoku was found guilty on nine charges and sentenced to eight years in prison on each count, which cumulatively totaled 72 years. These sentences will run simultaneously.

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Nwabuoku was charged with charges approaching money laundering and fraud worth N868.4 million.

The EFCC 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 alleged to be the proceeds of unlawful activities.

Omotosho, on Wednesday, granted the EFCC’s final confiscation request.

The anti-corruption agency has applied to the court seeking the forfeiture of shares worth N1.9 billion, cash assets of N288 million and a five-bedroom luxury apartment in Abuja traced to the former convict AGF.

The presiding judge ordered the confiscation of shares acquired by the convict in several securities companies worth N1,941,805,342 as of March 29, 2026.

Omotosho argued that the court was convinced that the assets were the proceeds of unlawful activities, considering the previous ruling that convicted the former AGF.

He then ordered that all funds, property, and shares be finally turned over to the federal government.