By Vincent Egunyanga, Abuja
A Federal High Court in Abuja has convicted and sentenced former acting Accountant-General of the Federation, Chukwunyere Nwabuoku, to 72 years imprisonment for laundering N868 million in public funds.
Justice James Omotosho, in his judgment on Monday, held that the prosecution established the case beyond reasonable doubt, convicting the former AGoF on all nine counts of money laundering.
“The defendant as Director of Finance at the Federal Ministry of Defence had monies entrusted to him. Monies meant for the security and defence of the nation. Instead, the defendant converted the monies to his use,” the judge said.
Nwabuoku was sentenced to eight years imprisonment on each of the nine counts, amounting to 72 years, with the sentences to run concurrently from March 23, 2026.
The court dismissed arguments challenging the admissibility of the defendant’s confessional statements, ruling that no objection was raised at the appropriate stage.
“This failure to raise the objections is deemed to be an admission that the statements were made voluntarily and thus raising same at this stage amounts to an afterthought. Consequently, this court is entitled to rely on the statements,” Omotosho ruled.
On the nature of the offence, the judge described the transactions as a clear case of laundering public funds through financial instruments.
“The defendant expertly put the money through proxy into his portfolio account with Quantum Zenith Securities to buy and trade securities. This is a classic example of what money laundering does,” he said.
The court also rejected the claim that the funds were meant for secret operations, holding that evidence showed they were used for personal purposes.
“However, the evidence before the court all show that they were rather used for the personal use of the defendant,” the judge stated.
Justice Omotosho further noted suspicious growth in the defendant’s financial profile, pointing out that prior to 2019, his account held less than N3 million but suddenly began receiving tens of millions of naira.
“The defendant’s act of diverting funds meant for other purposes to his own use is quite appalling and revealing,” he added.
The court also took note of evidence that the defendant refunded N220 million during investigation, which was not disputed by the defence.
Despite pleas for leniency, the court held that the offence warranted strict application of the law.
“The sentence shall start to run from today the 23 day of March, 2026 and shall run concurrently. The prosecution is at liberty to file formal application for forfeiture of applicable assets and properties,” the judge ruled.
Earlier, the defendant had pleaded for mercy, saying, “My Lord, I have served for 35 years and retired. In all these years, I have been diligent. I will plead for leniency.”
But the court maintained that the gravity of the offence, involving funds meant for national security, justified the conviction and sentence.
