In an unfolding trial that has captured the nation’s attention, key witnesses have revealed how the former Nigerian Accountant-General, Ahmed Nwabuoku, used four companies to orchestrate the diversion of significant funds from the Ministry of Defence. These revelations were made during proceedings at the Federal High Court in Abuja, where Nwabuoku faces multiple charges related to financial mismanagement and corruption.
According to testimony from a number of individuals involved in the investigation, Nwabuoku reportedly utilized four shell companies to illegally funnel government funds meant for the Ministry of Defence into personal and private accounts. These companies, which were not listed in any official contracts or dealings with the ministry, acted as conduits for the misappropriation of the public funds.
One of the primary witnesses, a former staff member of the Ministry of Defence’s finance department, stated that Nwabuoku exercised direct control over the disbursement process, bypassing necessary checks and approvals. Funds intended for vital defence procurement and military operations were reportedly rerouted to these companies, which then transferred the money to accounts under the control of the former Accountant-General.
The companies involved are now under intense scrutiny, with authorities investigating how these entities were able to secure contracts without undergoing the usual vetting and approval processes. The evidence presented so far includes suspicious transactions and bank records showing the movement of millions of naira across various accounts linked to the companies and Nwabuoku.
Speaking on the issue, the Director of the Economic and Financial Crimes Commission (EFCC), who is overseeing the investigation, emphasized the seriousness of the charges and the implications for national security. “This case highlights not only the gravity of financial corruption but also the risks it poses to the safety and security of our nation. Public funds meant for crucial defense operations should never be diverted for personal gain,” he remarked.
Nwabuoku’s defense team has denied all accusations, arguing that the payments in question were legitimate and properly authorized. However, with mounting evidence and testimonies from former colleagues and financial experts, the case is expected to intensify in the coming weeks.