A former acting Accountant-General of the Federation, Anamekwe Nwabuoku, on Wednesday, urged the Federal High Court in Abuja to grant him time to negotiate an out-of-court settlement with the Economic and Financial Crimes Commission over an alleged N1.96bn fraud.
Nwabuoku is facing nine counts filed by the EFCC. He was initially charged alongside Felix Nweke, a director in the Federal Civil Service, but the anti-graft agency amended the charges, dropping Nweke as a co-defendant after he agreed to testify against Nwabuoku.
The amended charge, marked FHC/ABJ/CR/240/24, accuses Nwabuoku of violating Section 18 of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012), which carries a penalty under Section 15(3) of the same Act.
Nwabuoku was appointed acting AGF in May 2022 following the suspension of Ahmed Idris, who was accused of laundering N80.2bn.
However, allegations of prior financial misconduct led to Nwabuoku’s removal in July 2022, just weeks after his appointment.
During the trial, Nweke, now a prosecution witness, testified that Nwabuoku used four companies to divert N1.96bn in public funds.
He further alleged that the stolen money was funnelled through bank accounts operated by a proxy, Gideon Joseph.
At the resumed hearing on Wednesday, Nwabuoku’s counsel, Isidore Udenko, pleaded with the court to allow his client to negotiate a settlement with the EFCC.
This followed an announcement by EFCC counsel, Ekele Iheanacho (SAN), that the prosecution had five additional witnesses ready to testify.
Udenko explained that Nwabuoku had previously attempted to settle with the EFCC, but negotiations fell through.
He also disclosed that a Senior Advocate of Nigeria had been engaged to facilitate the new settlement talks.
In response, Iheanacho said the prosecution had no objections to the request.
“Although we have five witnesses in court and are prepared to proceed with the trial if the defendant’s request aligns with the interests of justice, we will not oppose it,” he said.
Following this, Justice James Omotosho adjourned the case to March 13 for a settlement update or continuation of trial.
