Ex-Acting Accountant-General Nwabuoku Jailed 72 Years Over N868.4m Fraud in Abuja Court
A Federal High Court sitting in Abuja has handed down a 72-year prison sentence to former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, over a fraud case involving N868.4 million.
Delivering judgment on Monday, March 23, 2026, Justice James Omotosho found the defendant guilty on several counts of money laundering in a prosecution initiated by the Economic and Financial Crimes Commission concerning N868,465,000. PulseNets learnt that the court upheld the charges after reviewing evidence presented during the trial.
Nwabuoku, who previously held the position of Director of Finance at the Ministry of Defence, had earlier admitted before the court in February that he approved the transfer of funds from the ministry to four private firms for what he described as “classified purposes”.
Further details obtained by PulseNets show that during proceedings, the former official acknowledged in a statement made to the Independent Corrupt Practices and Other Related Offences Commission on February 2, 2025, that he supervised the movement of funds to the companies for undisclosed security-related activities.
The companies named in the case include Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge, and Arafura Transnational Afro Limited.
PulseNets reported that this admission represented a significant departure from his earlier position, where he denied any association with the firms and maintained that he only became aware of them during the trial.
During cross-examination, prosecution counsel Ekele Iheanacho confronted the defendant with his prior statement to the ICPC, where he admitted to facilitating the transactions.
The prosecution maintained that no credible evidence was presented to justify the claim that the funds were deployed for legitimate security operations, stressing that there was no documentation linking the disbursements to lawful government activities.
According to the EFCC, the transactions were part of a wider pattern of financial misappropriation, with public funds allegedly diverted and channelled through private entities under the pretext of security expenditure.
In a related disclosure, PulseNets learnt that Nwabuoku told the court he acquired his residence through legitimate means. However, under further scrutiny, he admitted that a cheque valued at N64 million issued by Mdavi Limited was used to make payment to City Gate Homes for the property.
The development, PulseNets gathered, prompted renewed concerns from the prosecution regarding the origin of the funds and the nature of his dealings with the company.
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The EFCC had earlier arraigned the former Acting Accountant-General on an amended nine-count charge bordering on money laundering, contrary to provisions of the Money Laundering (Prohibition) Act.
With the conviction, the court affirmed the anti-graft agency’s argument that the funds were unlawfully diverted and laundered through private companies.
