Former Acting Accountant-General Chukwunyere Nwabuoku admits in court he authorised transfers of funds to four companies
N868m Fraud Trial: Shocking Admission in Court – Former Acting Accountant-General Confesses to Releasing Millions for ‘Classified Purposes’
In a dramatic turnaround during his ongoing trial, former Acting Accountant-General of the Federation Chukwunyere Anamekwe Nwabuoku has admitted under cross-examination that he confessed to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) about authorising the transfer of funds from the Ministry of Defence to four private companies for what he termed “classified purposes.”
The admission, made on Tuesday, February 10, 2026, before Justice James Omotosho of the Federal High Court in Abuja, directly contradicts Nwabuoku’s earlier testimony where he denied any prior knowledge or dealings with the companies—Temeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge, and Arafura Transnational Afro Limited—claiming he only learned of them in court.
Prosecution counsel Ekele Iheanacho, SAN, confronted the defendant with his own ICPC statement dated February 2, 2025, in which he explicitly admitted that, as Director of Finance at the Ministry of Defence, he oversaw the transfers for classified security purposes that could not be publicly disclosed.
The prosecution further argued that no evidence exists to prove the funds—totaling N868,465,000—were used for legitimate security needs, describing the transactions as unlawful.
Adding to the intrigue, while insisting he purchased his residence personally from legitimate earnings, Nwabuoku identified a N64 million cheque issued by Mdavi Limited to City Gate Homes for the property acquisition.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Nwabuoku on an amended nine-count charge of money laundering involving the sum of N868,465,000.
Nwabuoku has pleaded not guilty to all charges.
After hearing arguments, Justice Omotosho adjourned the matter to February 27, 2026, for the adoption of written addresses.
The case continues to draw intense scrutiny as it highlights alleged misuse of classified defence funds during Nwabuoku’s tenure before his brief stint as Acting AGF in 2022. Read More
