HEDA Demands ICAN Sanction Convicted Ex-Defence Official Over ₦868m Fraud
The Human and Environmental Development Agenda (HEDA Resource Centre) has called on the Institute of Chartered Accountants of Nigeria (ICAN) to immediately commence disciplinary proceedings against Mr. Nwabuoke Anamekwe Chukwunyere following his conviction for fraud and money laundering.
In a petition signed by HEDA’s Chairman, Olanrewaju Suraju, addressed to ICAN President, Mallam Haruna Nma Yahaya, the anti-corruption group urged the professional body to impose maximum sanctions on Chukwunyere, a Fellow of the Institute, to protect the integrity of the accounting profession in Nigeria.
The civil society organisation’s demand follows the judgment delivered on March 23, 2026, by Justice James Omotosho of the Federal High Court in Abuja, which found Chukwunyere guilty on nine counts bordering on money laundering and diversion of public funds. The court sentenced him to 72 years imprisonment, to run concurrently as eight years.
HEDA noted that the conviction provides conclusive evidence of professional misconduct, stressing that the former Director of Finance and Accounts in the Ministry of Defence abused his office by diverting funds meant for national security, amounting to ₦868.46 million.
According to the organisation, the court’s findings further revealed that the convicted official refunded ₦220 million to the Economic and Financial Crimes Commission (EFCC) during the investigation, an act the court interpreted as an admission of guilt.
“If he did not have a guilty mind, then he would not have refunded the money. This offence is a grave betrayal of public trust and a serious breach of ethical standards expected of chartered accountants.” Suraju maintained.
The organisation recalled that it had earlier petitioned ICAN in July and November 2022 over the matter, but the Institute had deferred action pending the conclusion of court proceedings. With a final judgment now secured, HEDA insisted that there is no longer any justification for delay.
Citing ICAN’s Professional Code of Conduct, particularly provisions on integrity, objectivity, and professional behaviour, Suraju maintained that Chukwunyere’s actions clearly amount to infamous conduct that warrants decisive disciplinary action.
HEDA therefore urged the Accountants’ Investigating Panel to act swiftly and decisively, including the application of maximum professional sanctions, to serve as a deterrent and reaffirm public confidence in the accounting profession.
The organisation stressed that failure to act decisively would undermine the credibility of the “Chartered Accountant” designation and weaken efforts to promote accountability in the management of public resources.
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