Nwabuoku has returned ₦220 million and Abuja duplex to EFCC in fraud probe settlement.
NaijaOnPoint Nigeria reports that Chukwunyere Anamekwe Nwabuoku, a former Acting Accountant General of the Federation, has returned ₦220 million and a residential property to the Economic and Financial Crimes Commission (EFCC) as part of a non-conviction-based asset recovery deal in connection with an ongoing corruption investigation.
The development was detailed in an ex parte motion filed by the EFCC at the Federal High Court in Abuja, marked FHC/ABJ/177/2024. The application, brought before Justice Mohammed Umar, seeks an interim forfeiture of funds and property linked to Nwabuoku and several affiliated companies.
Nwabuoku is currently undergoing trial on a separate nine-count charge of alleged money laundering to the tune of ₦868.4 million. He has pleaded not guilty to the charges, and the matter remains before Justice James Omotosho of the same court.
In the fresh application, EFCC counsel, E. Iheanacho, SAN, urged the court to order the temporary forfeiture of assets believed to be proceeds of unlawful activity. The assets listed include funds in accounts held by:
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Temeeo Synergy Concept Ltd – ₦12.5 million
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Turge Global Investment Ltd – ₦4.1 million
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Laptev Bridge Ltd – ₦682,904
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Arafura Transnational Afro Ltd – ₦51.2 million
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EFCC Recovery Account – ₦220 million voluntarily returned by Nwabuoku
The Commission also sought a directive for the publication of the interim forfeiture order in a national daily, inviting interested parties to show cause within 14 days why the assets should not be permanently forfeited to the Federal Government.
An affidavit deposed by EFCC operative Chinelo Okpara revealed that the investigation was linked to the alleged misappropriation of internal security funds disbursed to the Ministry of Defence. Nwabuoku, then serving as Director of Finance and Accounts in the Ministry, was said to have played a pivotal role in diverting public funds.
According to the EFCC, between November 2019 and September 2020, multiple deposits totaling ₦355 million were made into the account of M Davi Company Enterprises, a firm allegedly used to channel funds for Nwabuoku’s benefit. Among the depositors was one Mr. Joseph Gideon.
Investigators claimed Nwabuoku used ₦64 million from the diverted funds to purchase a five-bedroom standalone duplex at No. 20, City Gate Estate, Kukwaba, Abuja. An additional ₦160 million was reportedly invested in securities and financial instruments.
The EFCC confirmed that the former AGF acknowledged ownership of the funds and property. On February 9, 2022, he refunded ₦220 million to the Commission’s recovery account and voluntarily surrendered the Abuja property, including handing over its keys.
Citing Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Iheanacho argued that the court has the jurisdiction to grant the interim forfeiture order regardless of whether a criminal conviction has been secured.
Although the matter was scheduled for hearing on Monday, court proceedings were postponed. The case has been adjourned to October 22, 2025.
Nwabuoku, who was appointed Acting Accountant General by former President Muhammadu Buhari on May 22, 2022, had stepped into the role pending the conclusion of investigations into the suspended AGF, Ahmed Idris.