The plea bargain between the former Registrar of the Joint Admission and Matriculation Board (JAMB), Professor Lawrence Adedibu Ojerinde and the Independent Corrupt Practices and other related offences Commission (ICPC) on resolution of alleged N5B fraud out of court has collapsed.
The two parties were on unable to agree on acceptable terms of settlement as promised at the Federal High Court in Abuja on Tuesday.
It was gathered that while the embattled Professor agreed to surrender all assets acquired while serving government, ICPC on its part stood its ground to take over all assets so far traced to him.
Some of the assets include several schools, companies and cash in banks standing in the name of the defendant.
ICPC’S lawyer, Ebenezer Sogunle just confirmed to Justice Obiora Egwuatu that the agreement had collapsed and that the ICPC was ready to proceed with the trial.
Counsel to the Professor, Mr Ibrahim Ishyaku, SAN, confirmed the development and that his client was ready to stand trial on the charges.