Alleged N868 million Fraud: Former acting accountant-general opens defence

Former acting accountant-general of the Federation (AGoF), Chukwunyere Nwabuoku, on Monday prayed the Federal High Court, Abuja Division, to acquit and discharge him of the alleged N868.46 million fraud case against him.
Mr Nwabuoku told Justice James Omotosho shortly after opening his defence in the charge preferred against him by the Economic and Financial Crimes Commission (EFCC), while being led in evidence by his lawyer, Norrison Quakers, SAN.
The EFCC is prosecuting the former AGoF on a nine-count charge bordering on alleged money laundering to the tune of N868,465,000.
Mr Omotosho had, on November 13, 2025, dismissed a no-case submission filed by Mr Nwabuoku on the grounds that the anti-graft agency had made out a prima facie case against him, necessitating the need for him to open his defence.
The judge said that holding that a prima facie case had been established did not necessarily imply that the court found him guilty of the charge. He added that allowing Mr Nwabuoku to open his defence was to enable him to exhaust the options available to him and clear every unresolved issue.
According to the judge, the defendant is still presumed innocent until proven guilty.
Led in evidence by his counsel on Monday, the ex-AGF denied being a signatory to some companies allegedly linked to him.
The companies include Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited and Arafura Transnational Afro Limited, which the EFCC alleged Mr Nwabuoku benefitted from during his time as former director of finance and Alaccounts in the federal ministry of defence.
“I did not sign any document and my name did not appear in the account opening packages of the companies,” he said when he was asked by Mr Quakers to go through the exhibits containing the names of the companies.
When the lawyer asked him if he knew Jerry Nwachukwu, Mr Nwabuoku, who is the first defence witness (DW-1), responded in the affirmative.
“Yes, I know him. He is a contractor, a registered contractor in the Ministry of Defence, even before I became director in the ministry,” he said.
He was asked to confirm if he instructed Mr Nwachukwu, one of the prosecution witnesses, to purchase the property he is occupying in CityGate, as alleged before the court.
Responding, he said, “I didn’t instruct him to buy any property for me. I bought the property myself.”
The DW-1 added that all documents associated with the said property are his, stressing that his name is on the transaction receipts for the property.
He said he had established a good record of service for 35 years without any dent, and that Nwachukwu, who was an EFCC witness, acknowledged this when he told the court that “he has no reason to doubt his (Nwabuoku’s) integrity.”
“My lord, I will be relying on the receipts of the property and, at the appropriate time, I will address the court on this,” Mr Quakers said.
Mr Nwabuoku told the court that he was neither a director nor a shareholder in Nwachukwu’s company.
The lawyer asked him to confirm refunding N220 million through another EFCC litigation and to explain what he knew about the development.
The ex-AGF said the development occurred during an investigation at the Office of the National Security Adviser (NSA), where officials said they saw a financial investment he made.
He told the judge that he receives “not less than N70 million annually as dividends” and that the money came from his bank account and is reflected in his stock statement.
He said the civil suit for forfeiture of his money was instituted by the EFCC at Court 5 before a sister judge while the criminal trial was ongoing.
When the lawyer showed him the court order in respect of the forfeiture, Nwabuoku confirmed it. Mr Quakers tendered it in evidence, and it was marked as Exhibit DW-H after the EFCC’s lawyer, Ekele Iheanacho, SAN, did not raise any objection.
“Finally, what do you want the court to do for you?” the lawyer asked.
“My lord, I want the court to discharge and acquit me in respect of this suit,” the ex-AGF said.
After concluding his testimony, the judge adjourned the matter until Feb. 10 for continuation of hearing, when the commission’s lawyer is expected to cross-examine Nwabuoku.
Mr Nwabuoku was admitted to N500 million bail with two sureties in the like sum after he was arraigned on January 15, 2025, on a nine-count amended charge.
The EFCC had, in the charge marked FHC/ABJ/CR/240/2024, listed Nwabuoku as the sole defendant.
In count one of the charge filed on November 27, 2024, the EFCC alleged that Mr Nwabuoku, alongside Temeeo Synergy Concept Limited (at large), Turge Global Investment Limited (at large), Laptev Bridge Limited, Arafura Transnational Afro Limited (at large) and other persons (all at large), conspired to convert funds said to be proceeds of unlawful activities.
The anti-graft agency said the offence was contrary to Section 18 of the Money Laundering (Prohibition) Act, 2011, as amended by Act No. 1 of 2012, and punishable under Section 15(3) of the same Act.
He was alleged to have committed the offence while serving as director of finance and Accounts in the ministry of defence between 2019 and 2021.
Mr Nwabuoku was later appointed acting AGoF on May 20, 2022, under former President Muhammadu Buhari, after Ahmed Idris was suspended as AGoF over alleged N80 billion fraud.
He was, however, replaced in July 2022, a few weeks after assuming office.
Sylva Okolieaboh, a director at the Treasury Single Account (TSA) Department, replaced Mr Nwabuoku as acting AGoF.
Mr Okolieaboh’s appointment followed reports that Mr Nwabuoku was under the radar of the EFCC over corruption allegations.
On January 31, 2025, the first prosecution witness (PW-1), Eucharia Ezeodi, a Zenith Bank Plc staff member, and a director in the federal civil service, Felix Nweke (PW-2), gave their testimonies against the defendant.
The anti-graft agency, however, closed its case after calling nine witnesses to establish its case against Mr Nwabuoku.
(NAN)
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