EFCC Arraigns Former Warri, PH Refinery MDs Over Alleged Money Laundering
Dikko faces 12 counts and Yisawu eight before an Abuja court, with the EFCC citing recoveries exceeding ₦9.4 billion and $21.2 million.
The Economic and Financial Crimes Commission (EFCC) has arraigned the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC), Ahmed Adamu Dikko, and the Warri Refining and Petrochemical Company (WRPC), Jimoh Yisawu, over allegations of money laundering linked to refinery rehabilitation funds.
The two former officials were arraigned before the High Court of the Federal Capital Territory (FCT) in Abuja. According to the EFCC, Dikko is facing a 12-count charge, while Yisawu is facing an eight-count charge.
In a statement, the anti-graft agency alleged that the defendants received funds from contractors involved in refinery rehabilitation projects, concealed the origin of certain payments, and carried out cash transactions outside financial institutions in contravention of Nigeria’s anti-money laundering laws.
The EFCC also said its ongoing investigation has led to the recovery of more than ₦9.4 billion, $21.2 million, and several landed properties, describing the case as one of its major investigations involving refinery rehabilitation funds.
According to court documents cited by the commission, one of the charges against Dikko relates to the alleged cash payment of ₦218.375 million for a property in Katampe Extension, Abuja, in February 2024. The EFCC further alleged that he received and retained funds from contractors connected to refinery rehabilitation projects and concealed the source of other funds linked to oil export transactions.
In Yisawu’s case, the EFCC alleged that he converted funds through third parties, retained payments allegedly received from contractors, and carried out transactions that it said were inconsistent with the provisions of Nigeria’s money laundering laws.
The commission said the charges were filed under the Money Laundering Act, 2011, and the Money Laundering (Prevention and Prohibition) Act, 2022.
The defendants have been formally arraigned, and the allegations are expected to be determined by the court.
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