A former Acting Accountant General of the Federation, Chukwunyere Anamekwe Nwabuoku, has refunded N220 million and handed over a five-bedroom duplex in Abuja to the Economic and Financial Crimes Commission (EFCC) as part of a non-conviction-based forfeiture process.
According to the report, the development follows an investigation by the EFCC into allegations of financial misconduct involving diverted funds meant for internal security operations under the Ministry of Defence.
Details of the refund emerged in an ex parte application filed by EFCC counsel, E. Iheanacho (SAN), before the Federal High Court in Abuja. The Commission is seeking interim forfeiture of multiple sums of money linked to Nwabuoku and companies allegedly used as conduits for laundering public funds.
Among the assets and accounts flagged in the motion include:
- Temeeo Synergy Concept Ltd: N12.5 million
- Turge Global Investment Ltd: N4.1 million
- Laptev Bridge Ltd: N682,904
- Arafura Transnational Afro Ltd: N51.2 million
- EFCC Recovery Account: N220 million refunded by Nwabuoku
The Commission also requested the court to publish the interim forfeiture order in a national newspaper, inviting interested parties to appear and show cause within 14 days why the assets should not be permanently forfeited to the Federal Government.
The EFCC’s application, marked FHC/ABJ/177/2024, was scheduled for mention on Monday before Justice Mohammed Umar but was adjourned to October 22, 2025.
Allegations and Admitted Ownership
According to court filings and the affidavit deposed by EFCC investigator Chinelo Okpara, the Commission received intelligence indicating fraudulent diversion of funds disbursed to the Ministry of Defence. The funds were reportedly diverted through four companies into the account of M Davi Company Enterprises, with a significant portion allegedly used for the personal benefit of Nwabuoku, then Director of Finance and Accounts at the Ministry.
EFCC investigators stated that:
- A total of N355 million was funneled into the M Davi account between November 4, 2019, and September 5, 2020.
- N64 million was allegedly used to purchase a five-bedroom duplex at No. 20, City Gate Estate, Kukwaba, Abuja.
- N160 million was invested in securities.
- The remaining sum was reportedly used for various personal financial dealings.
The Commission claims that Nwabuoku, in a written extrajudicial statement, admitted ownership of the funds and the property in question. He subsequently refunded N220 million to the EFCC’s Recovery Account on February 9, 2022, and voluntarily surrendered the duplex along with its keys.
Legal Framework and Pending Charges
The EFCC, relying on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, is pursuing a non-conviction-based forfeiture—a legal process allowing recovery of assets suspected to be proceeds of crime without requiring a criminal conviction.
Despite the refund, Nwabuoku is still facing separate criminal prosecution on a nine-count amended charge of money laundering totalling N868.5 million, before Justice James Omotosho of the Federal High Court. He has pleaded not guilty, and the case remains ongoing.
Nwabuoku was appointed acting Accountant General of the Federation in May 2022 by then-President Muhammadu Buhari, following the suspension of Ahmed Idris, who was also being investigated by the EFCC at the time.
What initially seemed like a fresh start for the Office of the Accountant-General has since devolved into yet another high-profile corruption scandal, raising questions about the integrity of Nigeria’s financial institutions and the depth of systemic accountability in the public sector.
While the refund and asset surrender may signal some success in the EFCC’s asset recovery efforts, critics argue that non-conviction settlements often fall short of delivering justice. Many observers are calling for a more robust prosecution that deters future abuse of public trust.
As the legal proceedings continue, the case of Chukwunyere Anamekwe Nwabuoku remains a stark reminder of the challenges Nigeria faces in tackling entrenched corruption within the highest levels of government.
Tags: #EFCC #Nwabuoku #Corruption #AssetForfeiture #PublicFunds #MinistryOfDefence #NigeriaJudiciary #AccountantGeneral
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