• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Saturday, June 14, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home News

N29 Billion fraud: Nyako, Associates Face Fresh Court Charges

Tambaya Julius by Tambaya Julius
March 21, 2024
in News
0
N29 Billion fraud: Nyako, Associates Face Fresh Court Charges
0
SHARES
28
VIEWS
FacebookTwitterWhatsappEmailTelegram

In a dramatic turn of events, the Economic and Financial Crimes Commission (EFCC) brought forward fresh charges against former Adamawa governor, Murtala Nyako, alongside his son and two others, in a re-arraignment over an alleged N29 billion fraud, heard at the Federal High Court in Abuja.

Former Adamawa governor, Murtala Nyako, along with his son and associates, face re-arraignment over an alleged N29 billion fraud, as the EFCC intensifies its pursuit of justice.

RelatedPosts

Danbilki Kwamanda Curses Tinubu, APC Governors During Hajj Funded by NAHCON

Iran’s Fiery Retaliation: Hundreds of Missiles Launched at Israel

Naira Appreciates to N1,590/$ on Parallel Market

Fresh Charges Unveiled: The EFCC re-arraigned Murtala Nyako and his associates on 37 counts of money laundering, relating to alleged fraudulent activities amounting to N29 billion, reportedly occurring during Nyako’s tenure as Adamawa governor.

Additional Defendants: Among those re-arraigned alongside Nyako and his son are Zulkifik Abba and Abubakar Aliyu, implicated in the alleged money laundering scheme.

Corporate Involvement: Several firms, including Blue Opal Limited, Sebore Farms & Extension Limited, Pagoda Fortunes Limited, Tower Assets Management Limited, and Crust Energy Limited, allegedly served as conduits for laundering the funds, with each joining the legal proceedings as defendants.

The re-arraignment followed the elevation of the former trial judge, necessitating a fresh start to the legal proceedings, presenting a new challenge in the pursuit of justice.

Maintaining Innocence: Nyako and his co-defendants maintained their plea of not guilty, as they reiterated their commitment to attending trial under the same bail conditions established previously.

Continued Bail: Counsel for Nyako and his associates sought the court’s permission to maintain their existing bail terms, emphasizing their compliance and commitment to the legal process.

ALSO READ:  Tinubu establishes c’ttee on green economic initiatives, appoints Ajuri as Special envoy

The prosecution highlighted previous attempts at exploring a potential settlement or plea bargain, particularly considering Nyako’s age, though the defence clarified that discussions leaned towards an amicable resolution rather than an admission of guilt.

Trial proceedings are set to commence afresh, with the court scheduling dates for April, as the EFCC continues its pursuit of justice in the alleged money laundering case.

The EFCC accuses Nyako, his son, and other defendants of siphoning funds from the Adamawa treasury between 2011 and 2014, allegedly using various companies to divert billions into private accounts, subsequently utilized in constructing private estates in Abuja.

As legal proceedings unfold, the case sheds light on yet another instance of alleged corruption within Nigeria’s political landscape, underscoring the ongoing efforts to combat financial malfeasance and uphold transparency and accountability in governance.

Tags: Alleged fraudMoney launderingRe-arraignment
Tambaya Julius

Tambaya Julius

Julius is a journalist, a BSc Holder in Mass Communication.

Related Posts

Danbilki Kwamanda Curses Tinubu, APC Governors During Hajj Funded by NAHCON

Danbilki Kwamanda Curses Tinubu, APC Governors During Hajj Funded by NAHCON

by Nathaniel Irobi
June 14, 2025
0

The National Hajj Commission of Nigeria (NAHCON) has sponsored a fierce critic of President Bola Tinubu, Mr Abdulmajid Almustapha Danbilki...

Iran’s Fiery Retaliation: Hundreds of Missiles Launched at Israel

Iran’s Fiery Retaliation: Hundreds of Missiles Launched at Israel

by Nathaniel Irobi
June 14, 2025
0

On Friday evening, Iran responded to an earlier Israeli strike on its nuclear and military facilities by launching hundreds of...

Naira Appreciates to N1,590/$ on Parallel Market

Naira Appreciates to N1,590/$ on Parallel Market

by Nathaniel Irobi
June 14, 2025
0

The naira closed stronger yesterday on the parallel market, appreciating to N1,590 per dollar, compared with the N1,610 to a...

Recommended

Kogi govt. awards N6.4bn rural roads contracts

Governor Ododo: Steering and Redefining Leadership in Kogi

13 hours ago
2027:Coalition Groups Endorse Tinubu, Uba Sani

2027:Coalition Groups Endorse Tinubu, Uba Sani

3 days ago

Popular News

  • Arewa group hails Tinubu’s inclusive appointments

    NURTW President Hails Tinubu’s Reforms, Urges Greater Support For Transport Sector

    0 shares
    Share 0 Tweet 0
  • Kaduna Govt Unveils 345 Supervisory Councillors, Special Advisers Across 23 LGAs

    0 shares
    Share 0 Tweet 0
  • Group Warns Against Attempt To Pitch Senator Katung Against Tinubu, Gov Uba Sani

    0 shares
    Share 0 Tweet 0
  • NAHCON Officials Grumble in Saudi Arabia Over Unpaid Allowances

    0 shares
    Share 0 Tweet 0
  • My Office Is Accessible To All, Hon. Bawa Tells Group

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (725)
  • Education (213)
  • Entertainment (309)
  • Health (189)
  • National (2,091)
  • News (7,869)
  • Opinion (290)
  • Politics (1,578)
  • Science (15)
  • Security (404)
  • Sports (423)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform