Court Approves Interim Forfeiture of N30.7m Over Alleged fraud Involving NNPC Officials
- A federal high court in Abuja ordered the interim forfeiture of N30.7 million suspected to be proceeds of fraud
- The order followed an ex parte application filed by the EFCC under a non-conviction-based forfeiture process
- The funds were allegedly linked to transactions involving a bureau de change operator and a public official
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
A Federal High Court in Abuja has granted an interim order allowing the forfeiture of N30.7 million believed to be linked to fraudulent activities involving the Nigerian National Petroleum Company Limited (NNPCL), following a request by the Economic and Financial Crimes Commission (EFCC).
The order was issued on Monday by Justice Emeka Nwite after he considered an ex parte application submitted by the anti-corruption agency, Business Day reported.
In his ruling, the judge directed that the funds be provisionally surrendered to the federal government and instructed that the order be announced in a national daily, as reflected in court records.
Source: UGC
The court also ruled that any individual or entity claiming ownership of the funds has 14 days to approach the court and explain why the money should not be permanently taken over by the government.
Justice Nwite subsequently fixed January 22 as the next hearing date to review compliance with the interim forfeiture order.
Court documents show that the EFCC filed the application, referenced FHC/ABJ/CS/2775/2025, on December 23, 2025, and formally presented it before the court on January 2, 2026.
During the proceedings, EFCC prosecutors informed the court that the N30.7 million was reasonably believed to be the proceeds of illegal transactions and, therefore, subject to forfeiture under the law.
Counsel to the EFCC, Emenike Mgbemele, told the court that the request was brought under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
He clarified that the action is a non-conviction-based forfeiture, meaning it does not depend on a prior criminal conviction.
EFCC details alleged fraud trail involving NNPCL officials
The EFCC disclosed that the funds were paid into its recovery account domiciled with United Bank for Africa (UBA) through four managers’ cheques, in which three had the sum of N10 million each and one had N700,000.
According to the commission, the cheques were issued under the description “M/C Draft Outstanding Account.”
In an affidavit supporting the application, EFCC investigator Bilkisu Abubakar explained that the investigation commenced after the commission received petitions alleging fraudulent practices involving top officials of the NNPCL.
She added that the probe involved intelligence-led investigations, bank verification processes, detailed reviews of financial documents and correspondence with relevant bodies, including the Corporate Affairs Commission.
Investigators trace funds through bureau de change operator
Abubakar told the court that investigations revealed Adamu Yakubu, a bureau de change operator, as a central player in the financial dealings under scrutiny, The Nation reported.
She explained that Yakubu voluntarily appeared before the EFCC on September 2, 2025, during which he provided a written statement alongside a transaction record and details of his customers.
According to her testimony, a review of the records showed that more than N4 billion had been channelled to various individuals and corporate entities, allegedly following directives from Ibrahim Sani, who was identified as an employee of the Federal Inland Revenue Service.
The investigator further stated that Sani later acknowledged using Yakubu as an intermediary to transfer funds. She said Sani regularly lodged substantial amounts of foreign currency with the bureau de change operator, who subsequently credited the naira equivalent into bank accounts supplied by Sani, without confirming the origin of the funds.
The EFCC maintained that the N30.7 million under interim forfeiture was still in Yakubu’s possession and constituted part of the funds allegedly provided by Sani, noting that both individuals disclaimed ownership of the money.
Abubakar also informed the court that Yakubu later issued four managers’ cheques in favour of the EFCC recovery account, and copies of the cheques were included in the documents submitted to support the application.
Source: Twitter
Former NNPCL CEO in EFCC custody
Legit.ng reported earlier that a former Group Chief Executive Officer of the NNPCL, Mele Kyari, was at the EFCC headquarters in Abuja over an ongoing probe into the $7.2 billion refineries’ turnaround maintenance.
Sources within the anti-graft commission explained the reason Mele is in the EFCC custody, a few months after President Bola Tinubu replaced him with Bashir Ojulari.
A Federal High Court sitting in Abuja has earlier ordered a temporary freezing of four bank accounts linked to Kyari over allegations of fraud.
Source: Legit.ng
