adplus-dvertising
Financial News

₦29bn Fraud: Court Gives EFCC, Nyako Oct. 16 Deadline For Plea Bargain Or Trial

Murtala Nyako

The Federal High Court in Abuja has given the Economic and Financial Crimes Commission (EFCC) and former Adamawa State Governor, Murtala Nyako, until October 16 to either conclude a plea bargain in the ₦29 billion fraud case or proceed to full trial.

At the resumed proceedings on Friday, Justice Peter Lifu expressed frustration over the prolonged delay in the case, which was first filed nearly a decade ago in 2015.

The court’s position followed status updates from both the prosecution, led by Oluwaleke Atolagbe, and defence counsel, confirming that the parties had yet to finalize terms of the proposed settlement.

Atolagbe informed the court that meetings were ongoing to resolve the matter and asked for additional time to allow both sides to conclude their discussions. He added that if the settlement failed, the EFCC would be ready to proceed with trial.

Defence lawyers, including Nyako’s legal team, confirmed that plea bargain negotiations were in progress and did not oppose the request for adjournment.

Justice Lifu, however, expressed displeasure at the repeated delays and warned that the court would not grant further extensions.

“This is not a murder case. If you want to settle, please do so; if not, we proceed,” the judge said.

He cautioned that the prosecution was “gradually turning this court into an adjournment court,” adding, “I’m only bending backward in line with Section 17 of the Federal High Court Act to promote, facilitate and encourage settlement.”

Justice Lifu then fixed October 16 for the parties to either present the outcome of their plea bargain or continue with the trial.

Nyako is facing trial alongside his son, Abdul-Aziz Nyako, and several companies and individuals on charges of conspiracy and abuse of office involving over ₦29 billion.

Also standing trial are Sebore Farms and Extension Ltd, Pagado Fortunes Ltd, Zulkifik Abba, Abubakar Aliyu, Blue Opal Ltd, Tower Assets Management Ltd, and Crust Energy Ltd.

The case, which began on July 8, 2015 before the late Justice Evoh Chukwu, restarted afresh on September 12, 2016, before Justice Okon Abang following Justice Chukwu’s death in June 2016 after the EFCC had called five witnesses.

The trial had to restart once again in 2023 after Justice Abang was elevated to the Court of Appeal, with Justice Lifu now presiding.