• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • More…
    • About
    • Privacy Policy
    • Advertise
Friday, December 5, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • More…
    • About
    • Privacy Policy
    • Advertise
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • More…
    • About
    • Privacy Policy
    • Advertise
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
12
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

Private sector alone can’t do business in Nigeria, state owned enterprises critical – MOFI

Scrap Association Hails Galadima’s Appointment By Wike

VIO Operations Declared Unlawful by Appeal Court

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.

ALSO READ:  NSCDC Shutdown Unauthorized Quarry in Abuja, 13 Suspect Arrested

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.

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
Previous Post

Government Effort To End University Staff Strike Ends In Deadlock

Next Post

Sheik Gumi Disputes FG Over Terrorism Financiers List

Tambaya Julius

Tambaya Julius

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

Related Posts

Private sector alone can’t do business in Nigeria, state owned enterprises critical – MOFI

Private sector alone can’t do business in Nigeria, state owned enterprises critical – MOFI

by Elanza
December 5, 2025
0

The Managing Director/Chief Executive Officer of the Ministry of Finance Incorporated, Dr. Armstrong Takang has stated that the continious narrative...

PDP Rift Deepens: Wike-Led Group Calls Parallel NEC, BoT Sessions

Scrap Association Hails Galadima’s Appointment By Wike

by Elanza
December 4, 2025
0

The Abuja Scrap, Environmental Waste and Scavengers Association has applauded the Minister of the Federal Capital Territory, Nyesom Wike, for...

VIO Operations Declared Unlawful by Appeal Court

VIO Operations Declared Unlawful by Appeal Court

by Nathaniel Irobi
December 4, 2025
0

The Court of Appeal, Abuja Division, has upheld the ban on VIO and awarded Abubakar Marshal one million naira cost....

Next Post
Sheik  Gumi Disputes FG Over Terrorism Financiers  List

Sheik Gumi Disputes FG Over Terrorism Financiers List

Captain Saleh Usman Burial Bickering: Christie Yori Drags Sabon Sarki Traditional Council to Court

Captain Saleh Usman Burial Bickering: Christie Yori Drags Sabon Sarki Traditional Council to Court

Recommended

33,000 Women, 14,000 Men Living with HIV in Plateau

33,000 Women, 14,000 Men Living with HIV in Plateau

4 days ago
Kebbi Govt Gives N100,000 Each to 650 PWDs

Kebbi Govt Gives N100,000 Each to 650 PWDs

1 day ago

Popular News

  • Gen. Gora Unveils Campaign Office In Jaba LGA  A Head Of 2027 Elections

    Gen. Gora Unveils Campaign Office In Jaba LGA A Head Of 2027 Elections

    0 shares
    Share 0 Tweet 0
  • Police, Council Accused of Backing Illegal Land Deals

    0 shares
    Share 0 Tweet 0
  • DRTS Jabi Officers Hail Yeldu’s Appointment

    0 shares
    Share 0 Tweet 0
  • TSM Publisher Condoles Mayor Igbokwe Over Mother’s Death

    0 shares
    Share 0 Tweet 0
  • The Holy Robe That Covered Evil

    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 (801)
  • Education (242)
  • Entertainment (326)
  • Health (217)
  • National (2,784)
  • News (9,210)
  • Opinion (360)
  • Politics (1,817)
  • Science (15)
  • Security (411)
  • Sports (525)

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