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BREAKING: Ex-AGF Bags 72 Years Over ₦868m Fraud
The Federal High Court in Abuja has sentenced Chukwunyere Anamekwe Nwabuoku, the former acting Accountant-General of the Federation (AGF), to 72 years in prison for his involvement in a ₦868.46 million fraud.
Justice James Omotosho convicted Nwabuoku on nine counts of money laundering, sentencing him to eight years per count, to run concurrently.
The sentence, which carries no option of a fine, relates to the diversion of ₦868.46 million from the Ministry of Defence between 2019 and 2021.
The case was filed by the Economic and Financial Crimes Commission (EFCC), which accused the former public officer of illegally moving public funds amounting to ₦868,465,000 through private channels.
The court heard that Nwabuoku, who once served as Director of Finance at the Ministry of Defence, admitted during proceedings that he authorised the transfer of funds from the ministry to four private companies. He told the court the transfers were made for “classified purposes”.
During the trial, it was revealed that the former Accountant-General made the admission in a statement to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) dated February 2, 2025. In that statement, he acknowledged supervising the movement of funds to the companies for undisclosed security-related operations.
The companies linked to the transactions are Temeeo Synergy Concept Limited, Turge Global Investment Limited, Laptev Bridge, and Arafura Transnational Afro Limited. Investigators told the court that these firms were used to channel the funds under suspicious circumstances.
Nwabuoku’s admission in court marked a sharp turnaround from his earlier position. At the beginning of the trial, he had denied any relationship with the companies. He also claimed he only became aware of them during court proceedings.
However, during cross-examination, prosecution counsel, Ekele Iheanacho, SAN, confronted him with his previous statement to the ICPC. Faced with the document, Nwabuoku admitted that he indeed facilitated the transactions.
The prosecution maintained that there was no evidence to justify the claim that the funds were used for legitimate security purposes. It told the court that no official records or approvals were presented to back the payments. The EFCC insisted that the transfers were part of a deliberate scheme to divert public funds.
According to the anti-graft agency, the money was moved through private companies under the cover of security expenditure. Investigators argued that the process lacked transparency and did not follow due government procedure.
In a related issue raised during the trial, Nwabuoku told the court that he acquired his residence legally. But under further questioning, he admitted that a cheque of ₦64 million issued by a company, Mdavi Limited, was used to pay City Gate Homes for the property.
The disclosure raised further questions about the origin of the funds and his financial dealings with private firms. The prosecution argued that the transaction suggested a pattern of questionable financial relationships.
Nwabuoku was initially arraigned on an amended nine-count charge bordering on money laundering. The charges were filed under the provisions of the Money Laundering (Prohibition) Act.
However, with the conviction, the court affirmed the EFCC’s position that the funds were unlawfully diverted and laundered.
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Polaris Bank celebrates 58 New Hires from its flagship PGIT, PTIP as CEO charge them to Keep Learning, Keep Evolving
Polaris Bank has graduated 58 exceptional new hires from its flagship Polaris Graduate Intensive Training (PGIT) and Polaris Tech Ignite Programme (PTIP), reinforcing its commitment to building world-class talent in Nigeria.
The ceremony, attended by senior leadership and invited guests, celebrated a highly selective cohort drawn from over 10,000 applicants – placing them among the top 0.58% who successfully made the cut. The milestone underscores the bank’s rigorous standards in identifying and grooming future leaders.
Addressing the graduates, Managing Director/CEO, Mr. Kayode Lawal, delivered a compelling charge centered on continuous learning and adaptability in a fast-evolving industry. “Never stop learning, because life never stops teaching,” he said. “In today’s technology-driven world, staying relevant requires constantly upgrading your skills. The world has moved from a pre-digital era to one powered by AI – where tasks that once took weeks are now completed in minutes. To thrive, you must learn, adapt, and evolve.”
He also stressed the primacy of character, noting that integrity remains the cornerstone of a successful banking career. “Integrity is the hallmark of a banker – once you lose it, you lose everything. What we truly sell is our reputation,” he stated, urging the graduates to uphold the highest ethical standards.
Mr. Lawal further encouraged disciplined financial habits, humility, and gratitude, reminding them that success goes beyond professional milestones to include lifelong learning, strong values, and respect for those who support one’s journey.
Congratulating the cohort, he urged them to embrace their careers with purpose and responsibility, noting that their contributions will be pivotal to the bank’s growth and the broader financial ecosystem.
The PGIT and PTIP programmes offer intensive training across banking and technology disciplines and have consistently produced high-performing professionals. The new hires will be deployed across key functions, supporting Polaris Bank’s strategic priorities in retail expansion, digital innovation, and superior customer experience.
Polaris Bank remains committed to empowering young Nigerians with opportunities to build impactful careers, as it continues to foster a culture of excellence, innovation, and sustainable growth within the financial services sector.
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Presidency Breaks Silence On Tinubu’s Absence At Lagos Project Commissioning Ceremony
The Presidency has clarified that President Bola Tinubu did not attend the scheduled project commissioning in Lagos on Wednesday, because he was preoccupied with urgent national security matters.
Special Adviser to the President on Public Communications and Orientation, Sunday Dare, also defended President Bola Tinubu’s handling of Nigeria’s security challenges, insisting that ongoing military operations and intelligence efforts demonstrate that the country is gaining the upper hand against terrorism.
Speaking on Politics Today on Channels Television, Sunday Dare said the President had remained actively engaged in national security matters, even while away from Abuja.
“The President prioritised national security developments over the event,” he said.
“Yes, the president is in Lagos, and I’m sure beyond the pictures, you know that the president has been busy with state matters.”
He added that recent security concerns across parts of the country required the president’s attention, noting, “You will know the last 10 days, right from the attack in Jos, we’ve seen the developments.”
Dare said Tinubu had been “busy taking constant briefs” and “has to prioritise when it comes to state matters, especially security”.
He further explained that the president remained actively engaged with security agencies, and was “monitoring development, working with the intelligence community, and taking constant security briefs.”
He assured Nigerians that the administration is consistently responding to threats and remains committed to protecting lives and property.
Meanwhile, President Tinubu while inaugurating the newly constructed Ojota-Opebi Link Bridge, a project his administration envisioned in 2002 but now delivered by Governor Babajide Sanwo-Olu, said the projects reflected Lagos State government’s commitment to development and aligned with his Renewed Hope vision, which, he said, sought to build a modern country that would be fully digitally enabled and economically strong.
The bridge, a 5.04-kilometre transport corridor, is one of the three key Lagos projects inaugurated on Wednesday by Tinubu in the first of his two-day official visit to Lagos for commissioning.
Other projects include five-storey Lagos State Geographic Information Service (LAGIS) Building and Lagos Multi-Agency Building, both in Alausa.
Tinubu, who was represented by the Senate President, Senator Godswill Akpabio, congratulated Lagos residents, saying the projects delivered by Sanwo-Olu spoke to the importance of putting people’s wellbeing at the centre of development.
Tinubu said: “The Ojota-Opebi Link Bridge is more than an infrastructure; it is a bridge to opportunities. In a busy city like Lagos, vehicular movement is more than just commuting; it is associated with the city’s economic wellbeing. When traffic flows, productivity improves. When time is saved, businesses grow. When access is made easier, living standards get improved.”
Tinubu thanked Lagos Government for making the new Administrative Complex after him, noting that he accepted the honour with humility.
Lagos State governor, Sanwo-Olu, said the projects were distinct but complementary investments, with each addressing a critical aspect of governance.
The bridge, he said, would address congestion and mobility around Ikeja-Maryland-Ojota corridor, while improving the quality of life for commuters.
He said the Ojota-Opebi Link Bridge would improve efficiency of traffic circulation, with noticeable impact beyond the immediate environs of the bridge. He said the road project was completed with walkways, bicycle lanes, solar-powered street lighting and embedded service ducts.
“We have built, not just for today’s needs, but with a clear eye on the ever-expanding demands of the future. As part of this project, we have integrated a comprehensive stormwater management system to address the long-standing challenge of flooding along the Odo-Iya-Alaro corridor, thereby strengthening environmental resilience,” he said.
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Operation Wutan Daji: Army Neutralises 10 Terrorists In Plateau Offensives
The Nigerian Army says its troops conducting Operation Wutan Daji have on Thursday, neutralised no fewer than 10 terrorists during coordinated offensives in Plateau.
An operational report made available to the News Agency of Nigeria (NAN) said the operations were carried out in Wase and Kanam Local Government Areas.
It said the operations targeted identified terrorist corridors around Daba and Seri villages.
It said that troops established blocking positions between Dutsen Zaki and Odare Forest, leading to contact with terrorists moving on motorcycles along the axis.
According to the report, the troops engaged the terrorists in a firefight, resulting in the neutralisation of several of them, while others fled with suspected gunshot wounds.
It added that exploitation of the area led to the recovery of 10 neutralised terrorists as well as combat items.
“Recovered items include two motorcycles, 25-litre jerrycans of Premium Motor Spirit, one AK-47 rifle and a magazine loaded with 7.62mm special ammunition.
“The operation is ongoing, with troops maintaining high fighting spirit and sustained offensive posture in the area.
“The Nigerian army reaffirms commitment to sustaining pressure on terrorists and restoring peace in affected communities,” it said.
