The Human and Environmental Development Agenda (HEDA Resource Centre) has called on the Institute of Chartered Accountants of Nigeria (ICAN) to immediately initiate disciplinary action against a former defence official, Mr. Nwabuoke Anamekwe Chukwunyere, following his conviction for fraud and money laundering involving ₦868.46 million.
In a petition signed by its Chairman, Olanrewaju Suraju, and addressed to ICAN President, Haruna Nma Yahaya, the anti-corruption group urged the professional body to impose maximum sanctions on Chukwunyere, a Fellow of the Institute, to safeguard the integrity of Nigeria’s accounting profession.
The demand follows a judgment delivered on March 23, 2026, by James Omotosho of the Federal High Court, Abuja, which found the former Director of Finance and Accounts in the Ministry of Defence 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 described the conviction as conclusive proof of professional misconduct, noting that Chukwunyere abused his office by diverting funds meant for national security.
The organisation further cited findings from the court which showed that the convicted official refunded ₦220 million to the Economic and Financial Crimes Commission (EFCC) during investigations, a move interpreted by the court 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 stated.
HEDA recalled that it had earlier petitioned ICAN in July and November 2022 but the Institute deferred action pending the outcome of court proceedings. With the court’s verdict now delivered, the group said there is no longer any justification for delay.
Citing provisions of ICAN’s Professional Code of Conduct on integrity, objectivity and professional behaviour, HEDA insisted that the offences committed amount to infamous conduct requiring decisive disciplinary measures.
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The organisation urged ICAN’s Accountants’ Investigating Panel to act swiftly, including the imposition of maximum sanctions, to serve as a deterrent and restore public confidence in the accounting profession.
HEDA warned that any failure to act decisively could undermine the credibility of the “Chartered Accountant” designation and weaken ongoing efforts to promote accountability in the management of public resources.
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