The Federal High Court in Abuja has granted former Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku, bail in the sum of N500 million.
The development comes as Nwabuoku faces charges of alleged N1.96 billion fraud.
Justice James Omotosho, in his ruling, stipulated that Nwabuoku’s bail be secured with two sureties, each providing a guarantee of N500 million.
The Economic and Financial Crimes Commission (EFCC) had re-arraigned Nwabuoku on an amended nine-count charge of money laundering and abuse of office. The charges, filed on November 27, 2024, accuse 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.
According to the EFCC, these alleged offences contravene Section 18 of the Money Laundering Prohibition Act 2011, as amended by Act No. 1 of 2012, and are punishable under Section 15(3) of the same Act.