https://www.thecable.ng/efcc-files-money-laundering-charges-against-ex-port-harcourt-warri-refinery-mds/#google_vignette

The Economic and Financial Crimes Commission (EFCC) has filed money laundering charges against Ahmed Dikko and Jimoh Yisawu, former managing directors of the Port Harcourt Refining Company (PHRC) and Warri Refining and Petrochemical Company (WRPC), over the alleged diversion of funds released for the rehabilitation of Nigeria’s refineries.

According to a report by Premium Times, the anti-graft agency filed separate charges against the two former refinery chiefs at the high court of the Federal Capital Territory (FCT) in Abuja on June 22.

Dikko is facing a 12-count charge, while Yisawu is facing an eight-count charge bordering on alleged money laundering, unlawful cash transactions, concealment of illicit funds and abuse of office.

The EFCC alleged that Dikko received and retained funds from contractors engaged by the Nigerian National Petroleum Company (NNPC) Limited, concealed the origin of some of the money through third-party accounts, and carried out transactions that breached the Money Laundering (Prevention and Prohibition) Act, 2022.

Among the allegations against Diko is that he paid about N218.4 million in cash for a property in Katampe Extension, Abuja, in February 2024 without using a financial institution, contrary to the law.

The EFCC also alleged that he retained and received hundreds of millions of naira from companies said to be contractors on refinery maintenance projects and converted $77,080 through a third party between October 2022 and May 2025.

In a separate charge, the commission alleged that Yisawu converted $789,950 through an associate between October 2023 and May 2025 and made cash payments outside the threshold permitted by law.

Prosecutors further alleged that the former WRPC managing director converted another $122,600 through a third party, retained millions of naira allegedly received from refinery contractors and invested part of the funds in treasury bills.

The charges are part of the EFCC’s ongoing investigation into the alleged diversion of funds approved for the rehabilitation and turnaround maintenance of Nigeria’s refineries.

The commission said it has so far recovered more than N9.4 billion, $21.2 million and several landed properties from the investigation.