The Economic and Financial Crimes Commission, EFCC, on Wednesday arraigned a former student leader, Mahmud A. Abubakar, before the Federal Capital Territory High Court, Maitama, over alleged fraud to the tune of N1.09 billion.
The President of the National Association of Nigeria Students, NANS, Akinteye Afeez, has since come to his defence, describing Abubakar as a “victim of circumstance” who was deceived by an associate.
EFCC Charges
Abubakar was arraigned before Justice N.C. Nwabulu on a two-count charge bordering on retention and transfer of proceeds of criminal activity.
According to the charge sheet:
– Count One: That between January 2024 and December 2024, Abubakar retained control of N795,360,000 in his Access Bank account, number 0057310017, which he knew was derived from criminal conduct.
– Count Two: That within the same period, he transferred N303,616,008 from the same account to one Suleiman Umar, with knowledge that the funds were proceeds of criminal conduct.
The total sum in question is N1,098,976,008.
https://newscenturytv.com/2026/09/02/no-be-cho-cho-cho-my-scorecards-are-everywhere-nans-president-babtee-marks-first-100-days-with-focus-on-welfare-security-and-digital-reform/Abubakar pleaded “not guilty” to both counts. Prosecution counsel Y.Y. Tarfa asked for a trial date and remand, while defence counsel A.M. Aliyu filed a bail application.
Justice Nwabulu granted bail with two sureties, both of whom must be Level 15 civil servants, with one required to own landed property in the FCT. The judge ordered Abubakar remanded in Kuje Correctional Centre pending fulfilment of bail conditions, and adjourned the matter to September 30, 2026, for commencement of trial.
NANS President’s Reaction
In a statement reacting to the arraignment, NANS President Akinteye Afeez said Abubakar, who is also a former President of the National Association of Nigeria Colleges of Education Students, NANCES, was set up.
According to Afeez:
“Mahmud is just a victim of circumstance, he trusted the wrong woman and worked with her, she deceived him and collected all logins to his account and she was running it.”
He explained that Abubakar trusted the woman because “as her worker, he always follow her to visit the Who is who in this country.”
Afeez alleged that the woman used Abubakar’s account to collect money from people seeking government appointments.
“She used the Account to collect money from those who want to buy appointment from govt. When she could not give them appointment, they came for her and she ran away. The next person they could pick is Mahmud because she use his account for all transactions.”
The NANS President further stated that Abubakar does not have the means to be involved in such amounts.
“Mahmud don’t even have 5million to himself, not to talk of 1billion.”
He concluded with a prayer for his colleague: “I pray he find mercy and grace in this time trial.”
Background
Mahmud A. Abubakar is identified as a student leader and former NANCES President. The case is expected to begin full hearing on September 30, 2026.
The EFCC alleges the funds were proceeds of criminal conduct, while NANS maintains that Abubakar was used without his knowledge and is not the principal beneficiary.
