Ex-AGF Nwabuoku seeks out-of-court settlement in N1.96 Billion fraud trial

Former Acting Accountant-General of the Federation (AGF), Anamekwe Nwabuoku, who is currently facing trial for alleged N1.96 billion fraud, has pleaded with the Federal High Court in Abuja for more time to negotiate a settlement with the Economic and Financial Crimes Commission (EFCC).

During Wednesday’s proceedings, EFCC lawyer Ekele Iheanacho, SAN, informed the court that the prosecution had five witnesses ready to testify. However, Nwabuoku, represented by his lawyer, Isidore Udenko, requested an adjournment, stating that he had engaged a Senior Advocate of Nigeria (SAN) to facilitate an out-of-court settlement.

Udenko explained that the trial only proceeded after previous negotiations with the EFCC failed. In response, Iheanacho said the prosecution was not opposed to the request, despite being prepared to continue with the case.

“Even though our five witnesses are in court and we are ready to go on with the trial, however, if the request of the defendant will meet the justice of the case, we will not be opposing,” Iheanacho stated.

Following this, Justice James Omotosho adjourned the case to March 13 for either a settlement report or a continuation of the trial.

Background of the Case

Nwabuoku was appointed Acting AGF in May 2022 after his predecessor, Ahmed Idris, was suspended and charged for allegedly laundering N80.2 billion in public funds. However, investigations later revealed that Nwabuoku himself had allegedly embezzled funds before his appointment, leading to his removal in July 2022—just weeks after assuming office.

The EFCC initially charged him alongside a Federal Civil Service Director, Felix Nweke. However, after agreeing to testify against Nwabuoku, Nweke was removed from the case.

In the amended charge, marked FHC/ABJ/CR/240/24, the EFCC accused Nwabuoku of violating Section 18 of the Money Laundering Prohibition Act, 2011, as amended, which carries penalties under Section 15(3) of the same Act.

Earlier testimony from Nweke revealed that Nwabuoku allegedly used four different companies to siphon N1.96 billion in public funds, with the stolen money funneled through bank accounts controlled by one Gideon Joseph.