N1.9 Billion Fraud: Ex-Accountant General Seeks Out-of-Court Settlement
Anamekwe Nwabuoku, the former acting Accountant-General of the Federation, has appealed to the Federal High Court in Abuja for an opportunity to negotiate an out-of-court settlement with the Economic and Financial Crimes Commission (EFCC) concerning allegations of a significant N1.96 billion fraud.
Nwabuoku faces nine counts brought against him by the EFCC. Initially, he was charged alongside Felix Nweke, a director within the Federal Civil Service; however, the charges were amended, and Nweke was removed as a co-defendant after agreeing to testify against Nwabuoku.
The amended charge, referenced as 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 stipulates a penalty under Section 15(3) of the same Act.
Nwabuoku was appointed as acting Accountant-General in May 2022, following the suspension of Ahmed Idris, who faced allegations of laundering N80.2 billion. However, Nwabuoku’s tenure was cut short in July 2022 due to previous allegations of financial misconduct.
During the proceedings, Nweke, now a prosecution witness, claimed that Nwabuoku utilized four companies to divert the public funds in question. He alleged that the misappropriated funds were funneled through bank accounts managed by a proxy, Gideon Joseph.
At the latest hearing, Nwabuoku’s counsel, Isidore Udenko, requested the court’s permission for his client to pursue settlement negotiations with the EFCC. This request came after EFCC counsel Ekele Iheanacho (SAN) announced that five additional witnesses were prepared to testify.
Udenko noted that Nwabuoku had previously attempted to negotiate with the EFCC, but those discussions had not reached a resolution. He further indicated that a Senior Advocate of Nigeria had been retained to assist with the new settlement negotiations.
In response to the request, Iheanacho stated that the prosecution had no objections, expressing readiness to proceed with the trial if the defendant’s request was consistent with the interests of justice.
Consequently, Justice James Omotosho adjourned the case until March 13 to provide an update on the settlement discussions or to continue with the trial.
