Ex-Acting AGF Nwabuoku Admits Diverting N868.4 Million to Private Firms

Ex-Acting AGF Nwabuoku Admits Diverting N868.4 Million to Private Firms

Chukwunyere Anamekwe Nwabuoku, the former acting Accountant-General of the Federation, has admitted in the Federal High Court in Abuja to authorising the transfer of N868.4 million in public funds from the Ministry of Defence to four private companies. The confession, made during cross-examination on Tuesday, marks a dramatic turn in the ongoing money laundering trial against the former senior public finance official.

The court, presided over by Justice James Omotosho, heard that the funds were transferred to Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arafura Transnational Afro Limited. Nwabuoku described the transactions in a written statement to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) as for “classified security purposes.” However, this contradicted his earlier testimony in court, where he denied any links to the companies.

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During cross-examination by prosecution counsel Ekele Iheanacho, SAN, Nwabuoku was confronted with his ICPC statement dated February 2, 2025, in which he admitted authorising the payments while serving as the Director of Finance at the Defence Ministry. The prosecution argued that there was no evidence that the funds were used for lawful security purposes, insisting that the transactions lacked proper documentation or justification.

Nwabuoku also addressed questions regarding his personal residence, claiming he purchased the property with legitimate earnings. However, he acknowledged a N64 million cheque issued by Mdavi Limited to City Gate Homes for the acquisition of the house, raising further questions about the source of funds.

He faces nine counts of money laundering linked to the N868,465,000, with the EFCC prosecuting the case. Earlier, the court dismissed his no-case submission, ruling that sufficient evidence existed for him to open his defence. The trial has highlighted alleged gaps in public finance management and accountability, particularly in senior government offices.

The case has been adjourned to February 27, 2026, for the adoption of written addresses by counsel, as the court continues to weigh evidence in one of Nigeria’s most high-profile anti-corruption trials.

The proceedings have attracted significant attention, reflecting growing public demand for transparency and the recovery of misappropriated public funds. Nwabuoku’s admission is expected to play a key role in the prosecution’s case and could influence how accountability measures are enforced in the management of federal resources.

Ex-Acting AGF Nwabuoku Admits Diverting N868.4 Million to Private Firms