Ex-AGF Nwabuoku jailed for 72 years for fraud

Nkereuwem Effiong

Justice James Omotosho of the Federal High Court, Maitama, Abuja, on Monday, 23 March 2026, convicted and sentenced former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, to a total of 72 years’ imprisonment for money laundering involving N868.4 million.

The conviction followed nine counts brought against him by the Economic and Financial Crimes Commission (EFCC), bordering on conspiracy, conversion and concealment of proceeds of unlawful activities.

According to a statement by EFCC spokesperson Dele Oyewale, the offences were committed between September 2019 and October 2020 in Abuja, where the defendant, alongside several companies and accomplices still at large, was found to have laundered public funds through multiple corporate accounts.

The court heard that large sums, including over N262.6 million, N202.8 million and N281.1 million, were channelled through accounts linked to companies such as Temeeo Synergy Concept Limited, Turge Global Investment Limited and Laptev Bridge Limited, with full knowledge that the funds were proceeds of unlawful activities.

Delivering judgment, Justice Omotosho held that the prosecution proved its case beyond a reasonable doubt, relying on strong and credible evidence.

The judge found that funds earmarked for the Ministry of Defence were diverted for personal use and routed through corporate accounts to conceal their origin. He noted that the accounts did not bear the defendant’s name, indicating a deliberate attempt to evade detection and prosecution.

“The evidence clearly shows that public funds were converted to personal use. The defendant failed to provide any legitimate explanation for the huge sums under his control,” the judge said.

The court also noted that Nwabuoku could not justify the purchase of a property worth N64 million or shares valued at N200 million. It further observed that he refunded N220 million to the EFCC, which the court interpreted as an admission of wrongdoing.

Justice Omotosho consequently convicted him on multiple counts, including conspiracy and concealment of funds, describing him as the mastermind behind the fraudulent scheme involving several corporate entities.

The judge further observed that the defendant’s bank account, which previously held about N3 million, began receiving massive inflows from August 2019, a development that coincided with the period of the offences.

He was accordingly sentenced to a cumulative 72 years in prison across the various counts.