High-Stakes Drama: Ex-Governor Nyako’s ₦29 Billion Fraud Case Hits Another Delay

The Federal High Court in Abuja has postponed the hearing of the plea bargain proceedings between the Economic and Financial Crimes Commission (EFCC) and former Adamawa State Governor, Murtala Nyako, to July 25.....KINDLY READ THE FULL STORY HERE▶

The adjournment was linked to delays caused by the recent death of former President Muhammadu Buhari, which disrupted scheduled meetings among key stakeholders.

At the resumed session on Friday, EFCC lead counsel Rotimi Jacobs (SAN) informed the court that discussions over a possible out-of-court resolution had stalled because the Attorney-General of the Federation (AGF), Lateef Fagbemi (SAN), was unavailable to meet with relevant parties due to the national mourning period.

Jacobs said, “The AGF was unable to convene discussions due to the demise of the former president. He has requested a short adjournment to finalize the necessary consultations.”

The defence team, led by Mathew Onoja, representing Nyako, and other lawyers, did not oppose the request. In response, Justice Peter Lifu granted the adjournment, noting the judiciary’s recognition of the federal government’s declared seven-day mourning period.

At a prior hearing, both parties had indicated progress toward reaching a mutual agreement. Jacobs expressed optimism, saying, “We hope to resolve all outstanding matters by the next adjourned date.” Nyako’s lead counsel, Michael Aondoaka (SAN), echoed this sentiment, adding that negotiations were already at an advanced stage.

EFCC’s ₦29 Billion Fraud Allegation

The EFCC has accused Nyako, his son Abdulaziz, and two associates — Zulkifikk Abba and Abubakar Aliyu — of criminal conspiracy, abuse of office, theft, and money laundering involving over ₦29 billion in public funds between 2011 and 2014, during Nyako’s tenure as governor.

The funds were allegedly diverted through five companies:

• Blue Opal Limited

• Sebore Farms & Extension Limited

• Pagoda Fortunes Limited

• Tower Assets Management Limited

• Crust Energy Limited

According to the EFCC, these firms were used to conceal the illicit origins of the diverted state funds, which were allegedly used to finance real estate projects in Abuja.

The transactions reportedly involved Ma’aji Iro, then Regional Manager of Zenith Bank Plc (North East), who facilitated withdrawals in cash for private use.

The alleged offences contravene Section 15(2)(a) & (6) of the Money Laundering (Prohibition) (Amendment) Act, 2012, and are punishable under Section 15(3) of the same Act.

Appeal Court’s Previous Ruling

In a judgment on January 18, 2022, the Court of Appeal in Abuja dismissed the appeals filed by Nyako and his co-accused seeking to halt the trial. Justice Olabisi Ige, who led the appellate panel, ruled that the EFCC had made a prima facie case warranting a full trial.

This upheld a prior decision by Justice Okon Abang, who had directed the defendants in July 2021 to open their defence following the EFCC’s presentation of 21 witnesses.

The defence had argued that no witness directly linked them to the crimes. However, the court ruled that the evidence was sufficient to proceed.

The case is scheduled to continue on July 25, pending updates on the outcome of the plea bargain discussions.

Stay connected via Google News

Follow us for the latest travel updates and guides.