Mkpoikana Udoma
Port Harcourt — A Federal High Court in Abuja has fixed April 30, 2026, to rule on the Economic and Financial Crimes Commission’s, EFCC, application seeking the final forfeiture of a property allegedly acquired with funds meant for counter-insurgency operations, intensifying the legal battle surrounding a former Acting Accountant General of the Federation.
Justice Mohammed Umar, sitting in Maitama, reserved ruling after hearing arguments from both parties over the disputed property linked to Chukwunyere Anamekwe Nwabuoku, who is already facing separate criminal charges over alleged money laundering.
At the proceedings, defence counsel N.I. Quakers, SAN, urged the court to dismiss the EFCC’s final forfeiture application, arguing that the property in question forms part of the subject matter of an ongoing criminal trial before another court.
He challenged the jurisdiction of the court to entertain the forfeiture request, noting that an interim forfeiture order granted on January 27, 2025, ought to be set aside.
However, the EFCC maintained that the property was traceable to proceeds of crime, specifically funds released for military operations against Boko Haram.
Responding, prosecution counsel Ekele Iheanacho, SAN, told the court that the Commission’s application for final forfeiture, filed on May 6, 2024, was backed by compelling evidence.
“My lord, the respondent at the material time was the Director of Finance in the Ministry of Defence. Funds released strictly for military operations were diverted through fictitious accounts to the tune of about N900 million,” Iheanacho said.
He further disclosed that investigations showed that about N355 million allegedly flowed to the respondent through a third-party account.
“From that fund, about N355 million went to the respondent through an account he nominated, belonging to M Davies Enterprises Ltd, and it was from that account that the property in question was purchased. That is the same property the defendant is currently living in,” he told the court.
According to the EFCC, Nwabuoku initially cooperated with investigators during the probe.
“In the course of investigation, the defendant voluntarily handed over the keys of the house for forfeiture and also refunded part of the funds. Surprisingly, when this proceeding commenced, he turned around to challenge the forfeiture,” Iheanacho added.
The prosecution also relied on an eight-paragraph affidavit deposed to by an EFCC operative, Chinyelu Vivian Okpara, with exhibits marked EFCC 1 to EFCC 7, as well as a further affidavit filed on May 16, 2024, urging the court to grant the final forfeiture order.
Justice Umar adjourned the matter to April 30, 2026, for ruling on all pending applications and judgment.
Meanwhile, the EFCC is prosecuting Nwabuoku separately before Justice James Omotosho of the Federal High Court, Abuja, on an amended nine-count charge of money laundering involving N868.465 million, linked to alleged diversion of public funds.
