Ex-Acting Accountant General Nwabuoku Returns N220m, Duplex To EFCC Amid Fraud Probe

Mr. Chukwunyere Anamekwe Nwabuoku, former Acting Accountant General of the Federation, has refunded N220 million and handed over a duplex to the Economic and Financial Crimes Commission (EFCC) following an ongoing investigation into alleged fraud.

The development was revealed in an ex parte motion filed by the EFCC at the Federal High Court in Abuja, marked FHC/ABJ/177/2024. The motion, a non-conviction-based application, is scheduled for mention before Justice Mohammed Umar but has now been adjourned to October 22, 2025.

Filed by EFCC counsel E. Iheanacho, SAN, the Commission is seeking an interim forfeiture order for several funds found in bank accounts connected to Nwabuoku. The motion lists the following accounts and amounts:

• Temeeo Synergy Concept Limited – N12,526,206.55
• Turge Global Investment Limited – N4,102,570.25
• Laptev Bridge Limited – N682,904.36
• Arafura Transnational Afro Ltd – N51,279,067.53
• EFCC Recovery Account – N220,000,000.00 (voluntarily refunded by Nwabuoku)

The EFCC also requested the court to publish the interim forfeiture order in a national newspaper, inviting any interested parties to show cause within 14 days why a final forfeiture should not be granted in favour of the Federal Government.

According to an affidavit deposed by EFCC operative Chinelo Okpara, the investigation stems from alleged misappropriation of funds allocated for internal security operations by the Ministry of Defence. The funds were reportedly diverted through four companies and funneled into an account belonging to M Davi Company Enterprises, ultimately benefiting Nwabuoku, who was the Director of Finance and Accounts at the time.

EFCC investigators revealed that a total of N355 million was paid into the M Davi account between November 4, 2019, and September 5, 2020, by various individuals, including one Mr. Joseph Gideon. Nwabuoku allegedly confirmed ownership of the funds in his extrajudicial statement to the Commission.

The Commission further disclosed that N64 million from the diverted funds was used to purchase a five-bedroom standalone duplex at No. 20, City Gate Estate, Kukwaba, Abuja, which has now been surrendered to the EFCC along with the property keys. An additional N160 million was allegedly invested in securities and financial assets.

On February 9, 2022, Nwabuoku reportedly refunded N220 million into the EFCC Recovery Account and voluntarily relinquished ownership of the Kukwaba property.

Citing Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, EFCC counsel Iheanacho emphasized that the court has the legal authority to grant interim forfeiture in non-conviction proceedings, as the assets are reasonably suspected to be proceeds of unlawful activities.

Meanwhile, Nwabuoku is also facing a separate nine-count amended criminal charge before Justice James Omotosho, also of the Federal High Court, Abuja, involving alleged money laundering totaling N868,465,000. He has pleaded not guilty, and the trial is ongoing.