Justice James Omotosho of the Federal High Court, Maitama, Abuja, on Monday, March 23, 2026, convicted and sentenced a former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, to a cumulative 72 years’ imprisonment for laundering N868.4 million.
Nwabuoku was prosecuted by the Economic and Financial Crimes Commission (EFCC) on a nine-count charge bordering on money laundering involving multiple companies allegedly used to funnel illicit funds.
The charges stemmed from transactions carried out between September 2019 and October 2020 in Abuja, during which the defendant, alongside several firms said to be at large, was accused of conspiring to convert proceeds of unlawful activities in violation of the Money Laundering (Prohibition) Act.
In counts two to four, the court heard that Nwabuoku used corporate accounts to move large sums, including over N262.6 million, N202.8 million, and N281.1 million, through accounts domiciled in Zenith Bank Plc, knowing the funds were proceeds of illegal activities.
Delivering judgment, Justice Omotosho held that the prosecution proved its case beyond reasonable doubt, relying on documentary and oral evidence presented before the court.
The judge found that funds meant for the Ministry of Defence were diverted for personal use and routed through corporate accounts to conceal their origin.
“The evidence clearly shows that funds meant for the Ministry of Defence were converted to personal use through transfers into corporate accounts for the benefit of the defendant,” the court held.
The judge further noted that the accounts used did not bear the defendant’s name, a move he said was intended to shield him from detection and prosecution.
Nwabuoku’s claim of having multiple investments was rejected by the court, which held that no credible evidence was presented to justify the volume of funds traced to him.
The court also relied on evidence that the defendant refunded N220 million to an EFCC recovery account, describing it as an implied admission of guilt.
“He was unable to explain how he acquired a N64 million property or shares valued at N200 million,” the judge added, before convicting him on counts two to five.
On the conspiracy charge, the court held that evidence from prosecution witnesses established that Nwabuoku masterminded the opening and operation of several corporate accounts used to receive illicit funds.
The court also convicted him on count six, which involved the concealment of N355 million paid into the account of another company on his behalf, noting the absence of any legitimate business transaction to justify the transfer.
Justice Omotosho further found him guilty on the remaining counts, citing a suspicious surge in his account balance from N3 million before 2019 to “hundreds of millions” within the period the offences were committed.
“The timeline is quite curious, as it coincides with the period of the alleged offences,” the judge observed.
He subsequently sentenced the former AGF to a total of 72 years in prison.
