LAGOS/Nigeria: The Human and Environmental Development Agenda (HEDA Resource Centre) has called on the Institute of Chartered Accountants of Nigeria (ICAN) to initiate disciplinary action against Mr. Nwabuoke Anamekwe Chukwunyere, following his conviction for fraud and money laundering by a Federal High Court.
In a petition signed by its Chairman, Olanrewaju Suraju, and addressed to ICAN President, Haruna Nma Yahaya, the organisation urged the Institute to impose appropriate sanctions, stressing that the matter now requires urgent professional scrutiny in light of the court’s verdict.
The demand follows a judgment delivered on March 23, 2026, by Justice James Omotosho of the Federal High Court in Abuja, which found Chukwunyere guilty on nine counts related to money laundering and diversion of public funds, sentencing him to a cumulative 72 years imprisonment to run concurrently as eight years.
HEDA said the conviction establishes clear evidence of professional misconduct, noting that the former Director of Finance and Accounts in the Ministry of Defence was found to have diverted ₦868.46 million meant for national security purposes.
The organisation further pointed to findings by the court that the convict refunded ₦220 million to the Economic and Financial Crimes Commission (EFCC) during the investigation, describing the development as indicative of culpability.
“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 said.
HEDA recalled that it had previously petitioned ICAN in July and November 2022, but the Institute deferred action pending the outcome of the court proceedings. With the conclusion of the trial, the group argued that there is no longer any basis for delay.
Citing provisions of ICAN’s Professional Code of Conduct on integrity, objectivity and professional behaviour, the organisation maintained that the actions of the convicted accountant amount to infamous conduct requiring decisive disciplinary measures.
It therefore urged the Accountants’ Investigating Panel to act promptly, including the application of maximum sanctions, to reinforce professional standards and deter similar misconduct.
HEDA warned that failure to act could erode public confidence in the accounting profession and undermine the credibility associated with the “Chartered Accountant” designation in Nigeria.
