We study the phase diagram of the frustrated $t{-}t^prime$ Hubbard model on the square lattice by using a novel variational wave function. Taking the clue from the backflow correlations that have been introduced long-time ago by Feynman and Cohen and have been used for describing various interacting systems on the continuum (like liquid $^3$He, the electron jellium, and metallic Hydrogen), we consider many-body correlations to construct a suitable approximation for the ground state of this correlated model on the lattice. In this way, a very accurate {it ansatz} can be achieved both at weak and strong coupling. We present the evidence that an insulating and non-magnetic phase can be stabilized at strong coupling and sufficiently large frustrating ratio $t^prime/t$.