Drama In Corruption Case As Court Orders Permanent Forfeiture Of Ex-AGF’s ₦1.9bn Wealth

Delivering judgment on Wednesday, Justice James Omotosho approved an application filed by the Economic and Financial Crimes Commission (EFCC) seeking the confiscation of properties and funds traced to the convicted former AGF.

The court ruled that the assets were proceeds of illegal activities and ordered that they be permanently handed over to the Federal Government.

Among the forfeited assets are shares valued at ₦1.9 billion, cash assets totaling ₦288.5 million, and a luxury five-bedroom duplex located in Abuja.

Nwabuoku had earlier been convicted on March 23, 2026, after being found guilty on a nine-count charge involving money laundering and abuse of office.

Following the conviction, the EFCC filed a Motion on Notice dated April 1, 2026, requesting a final forfeiture order on the identified assets.

Court records showed that the ₦288,590,749 cash assets were traced to accounts associated with companies such as Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arrafura Transnational Afro Ltd.

The amount also included ₦220 million reportedly refunded by Nwabuoku into the EFCC Recovery Account maintained with the Central Bank of Nigeria.

The court further ordered the forfeiture of a five-bedroom duplex situated at No. 20 City Gate Estate, Kukwaba, Abuja.

In addition, stocks and shares acquired by the former AGF in several security companies, valued at ₦1,941,805,342 as of March 29, 2026, were also confiscated.

Justice Omotosho stated that the court was convinced the assets were proceeds of unlawful conduct, relying on the earlier judgment that convicted the former AGF.

He subsequently directed that all the funds, properties, and shares be permanently forfeited to the Federal Government of Nigeria.