A Federal High Court in Abuja has sentenced Chukwunyere Anamekwe Nwabuoku, the former Acting Accountant-General of the Federation, to eight years in prison due to his involvement in a fraud case amounting to N868.46 million.
The ruling was made by Justice James Omotosho on Monday after Nwabuoku was found guilty of money laundering during his period of service as the Director of Finance and Accounts at the Ministry of Defence, which spanned from 2019 to 2021.
The Economic and Financial Crimes Commission (EFCC) had charged Nwabuoku and another defendant, Felix Nweke, under a nine-count indictment that included potential penalties of eight years of imprisonment for each party.
Delivering the judgment, Justice Omotosho dismissed claims made by Nwabuoku’s attorney, Norrison Quakers (SAN), who argued that the confessional statements from Nwabuoku were not admissible as they were allegedly not made voluntarily. This appeal was presented after the trial and not during it.
Upon reviewing the evidence provided by the EFCC, the judge concluded that the agency had proven all necessary components for the conviction based on each of the charges brought against the defendant.
The judge remarked on how Nwabuoku, in his capacity as Director of Finance, diverted funds entrusted to him to a portfolio account at Quantum Zenith Securities for the purchase and trading of securities.
"This is a classic example of what money laundering entails, as it involves injecting illicit funds into legitimate activities to sanitize the money," Justice Omotosho remarked during the proceedings.
On November 27, 2024, the EFCC accused Nwabuoku, along with several companies and individuals, of conspiring to convert these funds unlawfully.
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