Court to Rule on N868 Million Fraud Case Involving Former Accountant-General Nwabuoku

The Federal High Court located in Abuja has scheduled April 13 for a decision in the case concerning former acting Accountant-General of the Federation, Mr. Chukwunyere Nwabuoku, who faces charges of laundering N868 million.

Judge James Omotosho announced the date following the presentation of concluding arguments by the prosecution's counsel, Ekele Iheanacho, a Senior Advocate of Nigeria (SAN), alongside Mr. Nwabuoku’s defence attorney, Norrison Quakers, also a SAN.

On January 15, 2025, the Economic and Financial Crimes Commission (EFCC) arraigned Mr. Nwabuoku on nine revised counts related to money laundering, granting him bail set at N500 million, with two sureties equally responsible.

The EFCC’s case asserts that Mr. Nwabuoku, in conjunction with several companies, such as Temero Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge Limited, and Arafura Transnational Afro Limited, engaged in converting funds suspected to be illicit gains. This alleged action breaches Section 18 of the Money Laundering (Prohibition) Act, 2011, and is subject to penalties outlined in Section 15(3) of the same Act.

Moreover, the commission claims that while he served as the Director of Finance and Accounts at the Ministry of Defence from 2019 to 2021, Mr. Nwabuoku was involved in the laundering of N86 million.

The prosecution brought forth nine witnesses to substantiate their claims, including Eucharia Ezeodi, an employee of Zenith Bank, and Felix Nweke, a federal civil service director.

After the prosecution completed its presentation, Mr. Nwabuoku submitted a no- case submission to the court.

On November 3, 2025, both parties concluded their final arguments regarding this application. Mr. Quakers asserted that the evidence presented by the EFCC, including witness testimonies and related exhibits, could not convincingly establish a prima facie case against his client.

In contrast, Mr. Iheanacho contended that the court ought to reject the no- case submission and compel Mr. Nwabuoku to commence his defence.

Last November, the judge issued a ruling that a prima facie case had indeed been established, necessitating the defendant’s entry into his defence.

The judge stated that the evidence and exhibits from the prosecution were substantial enough to justify the continuation of the trial.

As a consequence of this ruling, Mr. Nwabuoku presented his defence on February 2, requesting acquittal of the alleged N868.46 million fraud charges.

Accompanied by his lawyer, Mr. Quakers, Mr. Nwabuoku denied having any signatory ties to several companies allegedly associated with him.

The conclusion of Mr. Nwabuoku’s defence prompted the adoption of written pleadings by both parties, leading to an impending judgement in April.

Backstory: Initially, the EFCC had charged Mr. Nwabuoku alongside Felix Nweke, who was subordinate to him at the Federal Ministry of Defence. In July of the previous year, both defendants sought court permission to return the alleged funds but subsequently rescinded the request.

The EFCC later modified the charges, positioning Mr. Nwabuoku as the sole defendant with Mr. Nweke now serving as a witness for the prosecution.

Mr. Nwabuoku was appointed acting Accountant-General of the Federation in May 2022 following the suspension of Ahmed Idris, who faced his own allegations of N80 million fraud, but was removed shortly thereafter as investigations by the EFCC began.