Buhari’s Death Stalls Nyako’s N29bn Fraud Settlement Talks With EFCC
By Kayode Lawal
The sudden death of former President Muhammadu Buhari has stalled a major development in the long-running N29 billion fraud case involving former Adamawa State Governor, Vice Admiral Murtala Nyako (rtd).
At the resumed hearing on Friday before the Federal High Court in Abuja, the Economic and Financial Crimes Commission (EFCC) disclosed that plea bargain talks with Nyako could not progress as scheduled.
According to EFCC counsel, Rotimi Jacobs (SAN), the Attorney-General of the Federation, Prince Lateef Fagbemi (SAN), was unable to hold crucial meetings due to national mourning.
The court took judicial notice of the federal government’s declaration of a seven-day mourning period and adjourned the matter till 25th July.
Barrister Mathew Onoja, appearing for Nyako, did not oppose the EFCC’s request for an adjournment, and Justice Peter Lifu granted it without objection from other defence lawyers.
Earlier, both the EFCC and Nyako’s legal team had hinted at out-of-court settlement talks.
Nyako’s lead counsel, Michael Aondoaka (SAN), confirmed that discussions were already at an advanced stage, raising hopes for a possible resolution.
Nyako and his son, Abdulaziz, are facing trial alongside two others — Zulkifikk Abba and Abubakar Aliyu over allegations of criminal conspiracy, stealing, abuse of office, and money laundering to the tune of N29 billion, allegedly siphoned from Adamawa’s treasury between 2011 and 2014.
The EFCC alleges that the funds were laundered through five companies and later used to develop estates in Abuja, with the help of a Zenith Bank manager who allegedly facilitated cash withdrawals for personal use.
Despite attempts to quash the charges through a no-case submission, both the trial and appellate courts ruled that Nyako and the others must open their defence.
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