A Federal High Court sitting in Abuja has convicted and sentenced former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, to a cumulative 72 years imprisonment for his role in an N868.4 million money laundering scheme involving public funds.
But he is to serve eight years because the 72 years is on nine charges for which he got eight years on each to run concurrently. Nwabuoku is expected to serve less than the term of years because a prison calendar year runs less than 12 months.
Delivering judgment, Justice James Omotosho held that the prosecution, led by the Economic and Financial Crimes Commission (EFCC), proved its case beyond reasonable doubt across all nine counts bordering on money laundering and conspiracy.
Fraud linked to defence funds
The court found that Nwabuoku, while serving as Director of Finance and Accounts at the Ministry of Defence, diverted funds earmarked for national security operations into private channels between 2019 and 2021. Justice Omotosho described the conduct as “appalling,” stressing that public funds meant for defence were converted for personal use.
According to the judgment, the defendant orchestrated the movement of illicit funds through multiple corporate entities, including Temeeo Synergy Concept Limited, Turge Global Investment Limited, and Laptev Bridge Limited, in a bid to conceal their origin.
“These accounts did not bear the name of the defendant because he deliberately attempted to shield himself from detection,” the judge said.
The charges included conspiracy and multiple counts of laundering proceeds of unlawful activity. Specific transactions cited in court documents included:
• N262.6 million routed through Temeeo Synergy Concept Limited
• N202.8 million through Turge Global Investment Limited
• N281.1 million through Laptev Bridge Limited
• Additional concealed sums, including N355 million linked to another account
The court also noted that prior to the alleged offences, Nwabuoku’s account balance stood at about N3 million, but surged dramatically from August 2019 – coinciding with the period of the fraudulent transactions.
A critical element of the prosecution’s case was evidence that the defendant refunded over N220 million to an EFCC recovery account during investigation. Justice Omotosho ruled that the refund, which was not contested by the defence, amounted to an implicit admission of guilt.
“He was unable to justify the source of funds used to acquire properties worth N64 million and shares valued at N200 million,” the judge added.
Nwabuoku was sentenced to eight years imprisonment on each of the nine counts, totaling 72 years. However, the court ordered that the sentences run concurrently, meaning he will serve a maximum of eight years.
He had earlier been arraigned on January 15, 2025, under charge number FHC/ABJ/CR/240/2024 and was granted bail in the sum of N500 million with two sureties.
The conviction marks another high-profile case in Nigeria’s ongoing anti-corruption drive led by the EFCC, which has intensified prosecutions of senior public officials accused of financial crimes.
The ruling underscores the judiciary’s growing willingness to impose significant penalties in cases involving diversion of public funds, particularly those tied to national security.
The EFCC has in recent years secured multiple convictions involving former government officials, as part of efforts to improve transparency and accountability in public finance management.
