BREAKING: Nigeria’s Ex-Acting Accountant-General Nwabuoku Sentenced To 72 Years For N868Million Fraud
Justice James Omotosho delivered the judgment on Monday, March 23, 2026, after finding Nwabuoku guilty on multiple counts of money laundering in a case prosecuted by the Economic and Financial Crimes Commission (EFCC) involving N868,465,000.
A Federal High Court in Abuja has sentenced former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, to 72 years in prison over a N868.4 million fraud.
Justice James Omotosho delivered the judgment on Monday, March 23, 2026, after finding Nwabuoku guilty on multiple counts of money laundering in a case prosecuted by the Economic and Financial Crimes Commission (EFCC) involving N868,465,000.
Nwabuoku, who previously served as Director of Finance at the Ministry of Defence, had in February admitted before the court that he authorised the transfer of funds from the ministry to four private companies for what he described as “classified purposes”.
The former government official admitted during his trial that, in a statement to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) on February 2, 2025, he acknowledged overseeing the transfer of funds to the companies for undisclosed security-related operations.
The firms involved in the case include Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge, and Arafura Transnational Afro Limited.
His confession marked a dramatic shift from his earlier stance during the proceedings, where he denied any dealings with the companies and claimed he only became aware of them during court sessions.
During cross-examination, prosecution counsel, Ekele Iheanacho, SAN, confronted Nwabuoku with his prior statement to the ICPC, in which he admitted facilitating the transactions.
The prosecution argued that there was no evidence to support the claim that the funds were used for legitimate security purposes, stressing that no documentation was presented to link the payments to lawful government operations.
According to the EFCC, the transfers formed part of a broader scheme of financial misappropriation, with funds allegedly diverted and routed through private companies under the guise of security expenditures.
In a related development, Nwabuoku told the court that he acquired his residence through legitimate means.
However, under further questioning, he admitted that a cheque of N64 million issued by a company, Mdavi Limited, was used to pay City Gate Homes for the property.
The revelation raised fresh concerns from the prosecution regarding the source of the funds and the nature of his relationship with the company.
The EFCC had arraigned Nwabuoku on an amended nine-count charge bordering on money laundering, in violation of provisions of the Money Laundering (Prohibition) Act.
With the conviction, the court upheld the anti-graft agency’s position that the funds in question were unlawfully diverted and laundered through private entities.
