The Economic and Financial Crimes Commission (EFCC) has won a major victory against financial crime, securing a 72-year prison sentence for former Acting Accountant-General of the Federation, Chukwunyere Nwabuoku, over fraud amounting to N868.46 million.
The commission disclosed on its X handle on Monday that Nwabuoku was prosecuted at the Federal High Court in Abuja on multiple counts of money laundering.
Arraigned on January 15, 2025, Nwabuoku faced nine amended charges, all relating to money laundering. He had been appointed acting AGF in May 2022 following the suspension of Ahmed Idris, who was accused of N800 million fraud, but was removed a few weeks later.
The EFCC revealed that Nwabuoku colluded with companies including Temero Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arafura Transnational Afro Limited to siphon funds linked to illegal activities. Some of the charges also involved laundering around N86 million while he served as Director of Finance and Accounts at the Ministry of Defence between 2019 and 2021.
Nine witnesses were called by the prosecution, including Zenith Bank staffer Eucharia Ezeodi and federal civil service director Felix Nweke.
Justice James Omotosho of the Federal High Court in Abuja found Nwabuoku guilty on all nine counts, sentencing him to eight years on each count. The sentences will run concurrently, with no option for fines.
The judge condemned the diversion of funds intended for security and defence as “appalling” and praised the EFCC for its thorough prosecution. He also noted that Nwabuoku had returned part of the misappropriated funds during the investigation, a fact that was not disputed by his defence.
