The former Registrar of the Joint Admission Matriculation Board, Professor Lawrence Adedibu Ojerinde, has failed in his bid to reach an out-of-court settlement with the Independent Corrupt Practices and other related offences Commission.

Recall that Ojerinde, who is standing trial for an alleged N5bn fraud, had on Tuesday in Abuja opted for a plea bargain with the ICPC instead of a formal trial.

“My Lord, our plea is that we should be given 24 hours to explore the possibility of a plea bargain to resolve this matter and we ask that the trial be adjourned for the period to enable us to come up with our terms of the settlement,” his new lead counsel, Ibrahim Ishyaku (SAN), told Justice Obiora Egwuatu on Tuesday.

However, DailyPost reported on Wednesday that both parties were unable to agree on acceptable terms of the settlement.

ICPC’S lawyer, Ebenezer Sogunle, was said to have confirmed to Justice Obiora, that the commission was ready to commence trial after failing to reach an agreement.

Subsequently, Ishyaku has also confirmed the development and that his client was ready to stand trial on the charges.

Prior to the collapse of the plea bargain, the embattled Professor had reportedly agreed to surrender all assets acquired while serving government, including several schools, companies and cash in banks standing in the name of the defendant.