In a high-profile case drawing nationwide attention, the Federal High Court in Abuja has granted bail to the former Accountant-General of the Federation (AGF), Chukwunyere Anamekwe Nwabuoku, who stands accused of involvement in a N1.96 billion fraud.
Presiding over the matter on Wednesday, Justice James Omotosho set the bail at N500 million, with the condition that the accused must provide two sureties of equal value.
The case, which has been under investigation by the Economic and Financial Crimes Commission (EFCC), involves allegations of money laundering and abuse of office. Nwabuoku was re-arraigned on an amended nine-count charge under case number FHC/ABJ/CR/240/2024. The charges, dated November 27, 2024, accuse the former AGF of conspiring with four companies—Temero Synergy Concept Limited, Turge Global Investment Limited, LAPTEV Bridge Limited, and Arafura Transnational Afro Limited—as well as other unnamed individuals who remain at large.
According to the EFCC, the accused parties are alleged to have engaged in a conspiracy between September 2019 and October 2020 to convert funds derived from unlawful activities. These actions violate Section 18 of the Money Laundering Prohibition Act 2011 (amended by Act No. 1 of 2012) and are punishable under Section 15(3) of the same Act.
The charges highlight Nwabuoku’s alleged role in orchestrating financial transactions that laundered proceeds from unlawful sources, further tarnishing the reputation of a position once held as a beacon of accountability in public service.
In granting bail, Justice Omotosho outlined stringent conditions designed to ensure Nwabuoku remains within the court’s jurisdiction throughout the trial. The case continues to unfold, with the EFCC vowing to pursue justice against those implicated.
This development adds yet another layer to Nigeria’s ongoing fight against corruption, particularly within the corridors of power. The trial promises to be a closely watched event, reflecting the broader challenges of holding public officials accountable in the face of systemic abuse.