N868m Fraud Trial: Ex-Acting AGF Admits Releasing ‘Classified’ Defence Funds to Four Firms

ByNewsmakers

Feb 11, 2026 #Chukwunyere Nwabuoku, #classified security payments, #EFCC prosecution, #Federal High Court Abuja, #former Acting AGF trial, #ICPC statement admission, #Justice James Omotosho, #Ministry of Defence funds, #N868m fraud case, #Nigeria money laundering case

Chukwunyere Anamekwe Nwabuoku

Matilda Omonaiye/

A dramatic twist unfolded yesterday at the Federal High Court in Abuja as former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, admitted that funds were transferred from the Ministry of Defence to four private companies for what he described as “classified purposes.”

The admission came during cross-examination before James Omotosho, sharply contradicting Nwabuoku’s earlier testimony in which he denied any dealings with the companies.

Under questioning by prosecution counsel Ekele Iheanacho, SAN, the defendant was confronted with his February 2, 2025 statement made to the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

In that written statement, Nwabuoku admitted that funds were transferred to:
• Temeeo Synergy Concept Limited
• Turge Global Investment Limited
• Laptev Bridge
• Arafura Transnational Afro Limited

The transfers, he stated, were made while he served as Director of Finance at the Ministry of Defence and were meant for “classified security purposes which are not to be disclosed.”

This position contrasts with his earlier court testimony where he claimed he only became aware of the companies when their names were mentioned during proceedings.

The prosecution argued that evidence before the court shows no proof that the payments were tied to legitimate security transactions.
Counsel maintained that there was “no proof whatsoever” that the funds were applied for lawful classified purposes, suggesting the transactions lacked documentary backing consistent with defence procurement or security operations.

Further controversy arose when Nwabuoku insisted he purchased his residence directly from legitimate earnings. However, in the same testimony, he identified a cheque of N64 million issued by Mdavi Limited to City Gate Homes for the acquisition of the property.

The apparent inconsistency added another layer to the prosecution’s case.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Nwabuoku on an amended nine-count charge bordering on alleged money laundering involving N868,465,000.

After hearing arguments, Justice Omotosho adjourned the case to February 27, 2026, for the adoption of written addresses.

The proceedings mark another significant chapter in Nigeria’s ongoing anti-corruption drive, particularly within sensitive public finance and defence institutions.