Former AGF seeks plea bargain for ₦1.96bn theft

Former AGF seeks plea bargain for ₦1.96bn theft

Former Acting Accountant-General of the Federation (AGF), Anamekwe Nwabuoku, who is currently facing trial for an alleged ₦1.96 billion fraud, has requested the Federal High Court (FHC) in Abuja for more time to negotiate with the Economic and Financial Crimes Commission (EFCC).

Nwabuoku, who is standing trial on nine counts, made the plea on Wednesday, February 26, after the EFCC’s lawyer, Ekele Iheanacho, a Senior Advocate of Nigeria, informed the court that five additional witnesses had been brought to testify against him.

Through his lawyer, Isidore Udenko, Nwabuoku informed the court that he had hired a senior advocate to facilitate negotiations with the EFCC. This request came after his initial attempts to reach a settlement with the EFCC failed, resulting in the current trial.

The EFCC’s lawyer, Iheanacho, expressed no objections to the defendant’s request. As a result, the trial judge adjourned the case, scheduling a future date to either review a settlement agreement or continue the proceedings.

Nwabuoku was appointed in May 2022 to temporarily oversee the Office of the Accountant-General of the Federation following the suspension of his predecessor, Ahmed Idris, who is being tried for allegedly laundering ₦80.2 billion in public funds. However, shortly after Nwabuoku took office, the EFCC accused him of embezzling public funds. Investigations by the EFCC led to his removal from office in July 2022, just weeks after his appointment.

Nwabuoku was subsequently charged with fraud alongside Felix Nweke, a director in the Federal Civil Service. Nweke later agreed to testify against Nwabuoku and was removed as a co-defendant.

The EFCC claims that Nwabuoku violated the Money Laundering Prohibition Act by using four companies to embezzle ₦1.96 billion in public funds. Nweke testified that the stolen funds were funneled into bank accounts controlled by one Gideon Joseph, who was the sole signatory to these accounts.

This case is not the first time an accused individual has sought to resolve fraud charges through plea bargaining with the EFCC. In several high-profile cases in the past, including those involving former Inspector-General of Police (IGP) Tafa Balogun, former Bayelsa State governor Diepreye Alamieyesagha, and former Osun State deputy governor Iyiola Omisore, the plea bargain strategy was employed.

Plea bargaining is a negotiated agreement between the prosecution and the accused, where the accused pleads guilty in exchange for a reduced sentence. The EFCC often uses this approach to recover looted resources from criminals. However, critics argue that plea bargaining sometimes results in lighter punishments, which may inadvertently encourage corrupt practices.

For instance, Tafa Balogun, the former IGP, was initially charged with 70 counts of corruption but reached a plea bargain that reduced the charges to just 8 counts of money laundering. He was convicted and sentenced to only six months in prison. Similarly, former Oceanic Bank MD Cecilia Ibru, who faced 25 charges, secured a plea bargain and was convicted on three counts, receiving a six-month sentence. She also forfeited 94 properties and shares worth ₦191.4 billion.

Former deputy governor of Osun State, Iyiola Omisore, who was accused of laundering funds allegedly misappropriated by former National Security Adviser Sambo Dasuki, also entered into a plea agreement with the EFCC, agreeing to refund over ₦1.3 billion.

While plea bargaining has facilitated the recovery of stolen assets, it has raised concerns about the leniency of sentences, potentially allowing corrupt individuals to escape harsher punishments.

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