BREAKING: Court grants ex-AGF bail in alleged N1.96bn fraud case

The Federal High Court in Abuja has granted bail to Chukwunyere Anamekwe Nwabuoku, the former Accountant-General of the Federation, amidst allegations of a ₦1.96 billion fraud.

Justice James Omotosho set the bail at ₦500 million, with two sureties required to provide guarantees of the same amount.

The decision followed Nwabuoku’s re-arraignment by the Economic and Financial Crimes Commission (EFCC) on an amended nine-count charge of money laundering and abuse of office.

The EFCC accused Nwabuoku of conspiring with four companies—Temero Synergy Concept Limited, Turge Global Investment Limited, LAPTEV Bridge Limited, and Arafura Transnational Afro Limited—to convert funds derived from unlawful activities.

The alleged offences are said to contravene Section 18 of the Money Laundering Prohibition Act 2011 (as amended) and are punishable under Section 15(3) of the same Act.

Nwabuoku’s trial is expected to proceed in the coming weeks as the court examines the allegations and evidence presented by the EFCC.

(PoliticsNigeria)