The Federal High Court in Abuja, yesterday, made an order confiscating a multi-billion naira asset and investments owned by Chukwunyere Nnabuoku, the convicted former acting Accountant-General of the Federation (AGoF), and ordering their forfeiture to the Federal Government.

Justice James Omotosho, in a ruling on a motion on notice filed by the Economic and Financial Crimes Commission (EFCC), held that the application was meritorious.

Citing previous Supreme Court decisions, Omotosho said: “In crimes such as money laundering, forfeiting the proceeds of crime is deemed to be a natural consequence of conviction.”

According to the judge, the above decisions of the Supreme Court clearly show that properties obtained with the proceeds of crime are liable to forfeiture after such a person has been convicted.

“The essence of this is to ensure that the convict derives no further benefits from such properties. The convict here will not be allowed to enjoy those properties which are being sought to be forfeited.”

“He has been convicted, and those properties have been established to emanate from proceeds of illegal activities,” he said.

The judge observed that counsel for the convict raised the issues of whether the matter is appealable and whether the order of forfeiture ought not to be granted, as the application amounts to an abuse of court process.

Responding, the judge said that the mere fact that a notice of appeal had been filed does not preclude the court from granting a final forfeiture of the said properties.

“Forfeiture in this instance is seen as part of the judgment.  In fact, it is similar to the sentencing handed down by the court.

“Where a person has been convicted, and a notice of appeal has been filed, would that preclude such a person from being sentenced? The answer to this is no, as sentencing usually follows conviction,” he said.

The judge said granting the forfeiture order does not disturb the likely outcome of the appeal.

On whether it was an abuse of court process, Omotosho said the convict did not attach any process of court showing that a final order of forfeiture had been granted or a process showing that an order of final forfeiture is being sought against the same properties and the same convict.

MEANWHILE, EFCC operatives have arrested the Director-General of the Energy Commission of Nigeria, Mustapha Abdullahi, over alleged money laundering offences involving more than N500 billion.

It was gathered that Abdullahi was arrested in Abuja yesterday and is currently being held in the custody of the anti-graft agency for further investigation.

A source within the anti-graft agency, who spoke on condition of anonymity, said Abdullahi was arrested in Abuja and is currently in custody.

The source said the alleged fraud under investigation involves funds estimated at N500 billion.

Efforts to obtain confirmation from the EFCC spokesperson, Dele Oyewale, were unsuccessful, as he could not be reached at the time of filing this report.