By Nkechi Eze
The Economic and Financial Crimes Commission has secured a major conviction as a Federal High Court sitting in Abuja sentenced former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, to a cumulative 72 years imprisonment over a N868.4 million fraud.
Delivering judgment on Monday, March 23, 2026, Justice James Omotosho found the former government official guilty on multiple counts of money laundering in a case involving N868,465,000.
The court heard that Nwabuoku, who previously served as Director of Finance at the Ministry of Defence, admitted during trial proceedings that he authorised the transfer of funds from the ministry to four private companies for what he described as “classified purposes.”
He further acknowledged, in a statement made to the Independent Corrupt Practices and Other Related Offences Commission on February 2, 2025, that he oversaw the movement of the funds to the firms for undisclosed security-related operations.
The companies implicated in the transactions include Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge, and Arafura Transnational Afro Limited.
However, the proceedings revealed a dramatic contradiction in the defendant’s position. Earlier in the trial, Nwabuoku had denied any dealings with the companies, insisting he only became aware of them during court sessions. His subsequent admission, tendered under scrutiny, became a critical turning point in the prosecution’s case.
During cross-examination, prosecution counsel, Ekele Iheanacho, SAN, confronted him with his prior statement to the ICPC, where he had admitted facilitating the transfers—an inconsistency that further weakened his defence.
The prosecution maintained that there was no evidence to support the claim that the funds were deployed for legitimate security operations, stressing that no documentation was presented to link the disbursements to lawful government activities.
According to the EFCC, the transactions formed part of a broader scheme of financial misappropriation, with public funds allegedly diverted and routed through private entities under the guise of security expenditures.
In a related development, the court also examined the circumstances surrounding the acquisition of the convict’s residence. Although Nwabuoku initially claimed the property was obtained through legitimate means, he later admitted under questioning 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 further questions about the source of the funds and his relationship with the company, reinforcing the prosecution’s argument of illicit financial dealings.
Nwabuoku was arraigned by the EFCC 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, marking a significant milestone in Nigeria’s ongoing fight against corruption.
