A Federal High Court in Abuja has finalized the forfeiture of assets linked to the convicted former acting AGF, Anamekwe Nwabuoku. The ruling follows his prosecution by the EFCC on nine counts of money laundering and fraud totaling N868.4 million.
Nwabuoku was handed a cumulative 72-year prison sentence in March, though Justice James Omotosho ordered the eight-year jail terms for each of the nine counts to run concurrently, meaning he will serve eight years.
The EFCC successfully proved that Nwabuoku used companies like Temeeo Synergy, Turge Global, Laptev Bridge, and Arafura Transnational to convert illicit cash. This paved the way for Wednesday’s sweeping forfeiture order by Justice Omotosho, stripping the jailed ex-treasury boss of N288 million cash, a luxury five-bedroom Abuja mansion, and N1,941,805,342 in corporate shares.
Reviewing the evidence, Justice Omotosho held the court was fully satisfied that the assets constituted “proceeds of unlawful activity,” tying the ruling directly to the former AGF’s fraud conviction. With the strike of a gavel, he ordered the complete and final forfeiture of all properties, investments, and cash holdings to the Federal Government
