The retired Air Chief is being prosecuted for an alleged fraud of N22.8bn.
His trial continued on Monday before Justice Mohammed Idris of the Federal High Court in Lagos.
Counsel to the EFCC, Nnaemeka Omewa, informed the court that the defence team had met with the anti-graft agency for negotiation in which they proposed terms of settlement.
Counsel to Amosu, Bolaji Ayorinde, also confirmed the position and asked the court to grant the parties a short adjournment to enable them to conclude settlement talks and report back on the outcome.
After listening to the submissions of both parties, Justice Idris adjourned the matter till March 7 for a report of settlement, failing which trial would continue.
The Air Marshal is standing trial alongside Air Vice Marshal Jacob Adigun and Air Commodore Gbadebo Olugbenga, as well as eight other companies for an alleged N22.8bn fraud.
He had initially entered into a plea bargain with the EFCC, but later abandoned it, a move which prompted the anti-graft agency to commence trial against all the defendants.