A Federal High Court in Maitama, Abuja, heard explosive testimony on Thursday detailing how the former Acting Accountant General of the Federation, Chukwunyere Nwabuoku, allegedly diverted over N868 million from the Ministry of Defence using a network of shell companies and coordinated cash withdrawals.
Testifying before Justice James Omotosho, Gudi Johnson, an investigator with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), said the diversion came to light following intelligence from the Ministry of Defence. Nwabuoku is facing a nine-count amended charge of money laundering filed by the Economic and Financial Crimes Commission (EFCC).
Johnson, appearing as the ninth prosecution witness (PW9), disclosed that companies such as Trans Afro Limited, Torch Global Limited, and Teemell Limited were used as conduits to funnel public funds. Investigations showed that one Gideon Joseph, listed as director of these firms, could not be traced at the registered addresses. This prompted the agency to approach the Ministry of Defence directly.
A senior official in the ministry, Mr. Felix, reportedly admitted acting under Nwabuoku’s instructions to process the questionable transactions. “Other staff members corroborated this, stating they were directed to transfer funds into the accounts of these shell companies,” Johnson told the court.
During his interrogation, Nwabuoku claimed the funds were meant for classified security operations, a defense ICPC later escalated to the Office of the National Security Adviser. A special investigative panel, including Gen. Babagana Monguno and EFCC representatives, was set up to probe further.
Johnson revealed that while Nwabuoku initially admitted to controlling only N100 million, deeper financial tracking linked significantly larger sums to him. The funds were reportedly withdrawn by Gideon Joseph and redirected into an account owned by M. Daddy’s Ltd.
Further investigations revealed that:
N355 million was deposited into M. Daddy’s Ltd on Nwabuoku’s orders.
N150 million was transferred to Quantum Zenith Ltd.
N13 million went to El Salen Ltd for property.
N10 million was spent on a generator.
A N65 million property at City Gate Homes was traced to Nwabuoku and seized.
Crucially, the Code of Conduct Bureau confirmed that the ex-AGF had failed to declare any of these assets. The court admitted multiple documentary exhibits, including official correspondences and banking records from Zenith and Access Bank.
Justice Omotosho adjourned the matter to May 22 and 23, 2025, for the continuation of the trial.
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