Ex-AGF Nwabuoku Seeks Time for Out-of-Court Settlement in N1.96 Billion Fraud Case
A former Acting Accountant-General of the Federation (AGF), Mr. Anamekwe Nwabuoku, who is standing trial for alleged involvement in a N1.96 billion fraud, has requested more time from the Federal High Court in Abuja to negotiate a potential out-of-court settlement with the Economic and Financial Crimes Commission (EFCC).
Nwabuoku, who faces a nine-count charge, made the request during a court proceeding after EFCC’s lawyer, Mr. Ekele Iheanacho, SAN, informed the court that five additional witnesses were ready to testify in the case.
Although Nwabuoku was not personally present in court, being represented by lawyer Mr. Isidore Udenko, he communicated his request to the court, stating that he had engaged a Senior Advocate of Nigeria (SAN) to help broker a settlement with the EFCC. Udenko explained that the trial had commenced after Nwabuoku’s earlier efforts to resolve the case with the anti-graft agency had failed.
EFCC’s lawyer, Iheanacho, SAN, stated that while the prosecution was prepared to continue with the trial and present its five witnesses, it was not opposed to granting Nwabuoku additional time for a potential settlement, provided it served the interests of justice.
Consequently, Justice James Omotosho adjourned the case to March 13, 2025, for either a report on any potential settlement or continuation of the trial.
Nwabuoku was appointed as the Acting AGF in May 2022, after the previous AGF, Ahmed Idris, was suspended and charged with laundering N80.2 billion in public funds. However, the EFCC later alleged that Nwabuoku had also engaged in fraudulent activities before his appointment. Following an investigation, he was removed from office in July 2022, just weeks after taking office.
Nwabuoku was charged alongside Mr. Felix Nweke, a Director in the Federal Civil Service. However, Nweke was removed from the case as a defendant after agreeing to testify against Nwabuoku. In the amended charge, Nwabuoku is accused of committing offenses under the Money Laundering Prohibition Act, 2011, for allegedly siphoning N1.96 billion using four different companies.
During the trial, Nweke testified that the looted funds were funneled into bank accounts controlled by one Gideon Joseph, who was the sole signatory to the accounts.
