Court gives EFCC go-ahead to temporarily freeze N30.7m linked to alleged NNPC fraud

The Federal High Court in Abuja has granted an application filed by the Economic and Financial Crimes Commission (EFCC) to temporarily forfeit the sum of N30.7 million linked to the alleged fraud perpetrated in the Nigerian National Petroleum Corporation (NNPC) to the Federal Government.

Justice Emeka Nwite, in a ruling on the ex-parte motion moved by EFCC’s lawyer, Emenike Mgbemele, held that the application was meritorious and accordingly granted.

Justice Nwite ordered that the interim order of forfeiture be published in a national daily for interested persons to show cause within 14 days why the funds should not be permanently forfeited to the Federal Government.

The judge then adjourned the matter until Jan. 22 for report of compliance.

Our correspondent recalls that NNPC was changed to Nigerian National Petroleum Company Limited (NNPCL) on July 19, 2022 to reflect a commercially focused energy company under late President Muhammadu Buhari as enshrined in the provisions of the Petroleum Industry Act (PIA) 2021.

The EFCC had, in the suit marked: FHC/ABJ/CS/2775/2025, sought two reliefs.

The motion ex-parte, dated Dec. 19, 2025, was filed on Dec. 23, 2025 by Ekele Iheanacho, SAN, but moved on Jan. 2 by Mgbemele.

One of the commission’s prayers is an interim order of the court forfeiting to the Federal Government of Nigeria the sum of N30, 700, 000.00 as raised in the manager’s cheques listed in the schedule, which it said, are reasonably suspected to be proceeds of unlawful activities.

Given three grounds, the lawyer argued that the court had the statutory powers under the provision of Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 to grant the reliefs being sought.

Mgbemele said it was a non-conviction-based asset forfeiture proceeding.

According to him, the funds sought to be attached and forfeited are reasonably suspected to be proceeds of unlawful activities.

In the schedule, the lawyer prayed that the funds lodged in four installments of N10 million each and N700, 000 in EFCC’s Recovery Account with United Bank for Africa (UBA)’s account number: 9058700029 with manager’s cheque name: M/C Draft Outstanding Account, be forfeited to the Federal Government.

An EFCC’s investigator, Bilkisu Abubakar, in the affidavit deposed to in support of the motion ex-parte, said she was assigned to investigate fraudulent activities of some high profile officials of the NNPC as well as other criminal petitions brought to the commission.

According to the officer, upon receipt of intelligence report, my team carried out several investigation activities which include but not limited to making inquiries and receiving financial records from commercial banks that featured in the intelligence.

Abubakar said it also included writing and receiving response from the various agencies like Corporate Affairs Commission, inviting and interviewing individuals who featured in the investigation.

“That I know as a fact and verily believe the findings of the investigation which are as follows:

“That in the cause of investigation and analysing some of the documents received from the bank, the name of Mr Adamu Yakubu, a Bureau De Change (BDC) operator, featured prominently.”

She said on Sept. 2, 2025, Mr Yakubu, whose name featured in the cause of investigation, was invited and he volunteered his statement.

“That Mr Yakubu submitted a ledger to the commission evidencing records of his transactions wherein the details of customers and the amount of dollars sold by them are recorded.

“That upon analysing the entering in the ledger submitted by Mr Yakubu, it was revealed that over N4, 000, 000, 000.00 (Four Billion Naira) was transferred to the accounts of different individuals and companies on the instruction of one Mr Ibrahim Sani, a staff of Federal Inland Revenue Services (FIRS).”

The investigator said it was discovered that the balance of N30.7 million sought to be forfeited was still in possession of Yakubu from the funds which he claimed was given to him by Mr Ibrahim Sani.

“That on the 15th day of September 2025, Mr Ibrahim Sani, a staff of FIRS, whose name appeared on the ledger and who Mr Yakubu claimed owned the N30, 700, OOO (Thirty Million, Seven Hundred Thousand Naira Only) was invited and he volunteered his statement.”

Abubakar averred that Ibrahim gave statement on how he had been using Yakubu, the BDC operator, to be sending monies to different individuals and companies.

“That Mr Ibrahim equally confirmed how he usually deposit huge amount of money (Dollars) with Mr Yakubu who in turn sends its naira equivalent to individuals and companies accounts provided by him.

“That Mr Ibrahim neither ascertained nor verified the source of these monies which he has been depositing with Mr Yakubu for onward transfer to other people which are reasonably suspected to be proceeds of unlawful activities.”

The investigator said Ibrahim, however, denied ownership of the N30.7 million found in Yakubu’s account as at the time of making his statement.

In his statement, Ibrahim was said to have stated that Yakubu was not holding any of his money as at Sept. 15, 2025.

The EFCC operative said both Yakubu and Ibrahim denied ownership of the said N30.7 million found in the account of the former (Yakubu).

“That Mr Yakubu has raised four different managers’ cheques in the name of the EFCC Recovery Account in favour of the Federal Government of Nigeria.

“Copies of the managers’ cheques are attached and marked as Exhibits EFCC 4A, 4B, 4C and 4D respectively.

“That I know as a fact and verily believe that the source of the funds sought to be forfeited in the account of Mr Yakubu is proceeds of unlawful activities.”

Abubakar said the court had the discretionary power to grant the application in the interest of justice.

The officer, who said the order being sought was in interim and that nobody would be prejudiced by its grant, said it was in the interest of justice to grant the application.