The Economic and Financial Crimes Commission (EFCC) is set to arraign two former managing directors of the Warri Refining and Petrochemical Company (WRPC) and the Port Harcourt Refining Company (PHRC) over separate allegations of money laundering involving more than $989,630 and N1.42 billion.
The separate cases, filed before Inyang Ekwo of the Federal High Court in Abuja, involve former WRPC Managing Director, Jimoh Yisawu, and former PHRC Managing Director, Ahmed Dikko.
Yisawu is expected to be arraigned on Friday on an eight-count charge, while Dikko is scheduled to appear before the court on Wednesday to answer a 12-count charge.
According to court documents, Yisawu is accused of laundering $789,950 and $122,600, allegedly converted through third parties between 2023 and 2025.
The EFCC alleged that the former refinery boss used one Samaila Bala to convert $789,950, which investigators claim were proceeds of unlawful activities beyond his legitimate earnings as a former official of the Nigerian National Petroleum Company Limited (NNPCL).
The commission further alleged that the transactions were executed through cash payments exceeding the legal threshold without passing through recognised financial institutions, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Investigators also accused Yisawu of laundering an additional $122,600 through Rasheed Yusuf of Rasheedat Anike Global Ventures between February 2024 and March 2025.
In another charge, the EFCC alleged that between January and June 2015, Yisawu knowingly received N25.56 millioninto his Zenith Bank and Access Bank accounts from JKpeez Impex Company, identified as a contractor to the former Nigerian National Petroleum Corporation, now NNPCL.
The anti-graft agency also accused him of investing N65.86 million in treasury bills through Cordros Securities Limited and retaining N15 million and N3 million allegedly paid by Ebenco Global Link Limited, another contractor linked to NNPCL.
Meanwhile, Ahmed Dikko is facing allegations involving transactions valued at about N1.42 billion, with the alleged offences dating back to 2022.
One of the charges alleges that in February 2024, he arranged a cash payment equivalent to N218.38 million through one Hadeija Bashir for the purchase of a property located at Plot 558, Abubakar Umar Street, Katampe Extension, Abuja, without using any financial institution.
The EFCC further accused the former PHRC Managing Director of retaining N100 million and N90 million allegedly received from Ebenco Global Link Limited, a refinery contractor, and concealing the origin of the funds through an Access Bank account reportedly operated by Aisha Ahmed Dikko.
Another charge alleges that Dikko, working alongside Masterpiece Projects and Investment Limited, disguised the source of N328.71 million allegedly paid by OMSA Integrated Services Limited from transactions linked to NNPCL’s allocation of Vacuum Gas Oil for export.
The commission also alleged that he received N59.2 million from funds channelled through Masterpiece Projects and Investment Limited, procured one Ebenezar Oluwagbemiga of Ebenco Global Link Limited to receive N356.41 millionon his behalf, converted $77,080 through Ibrahim Isa Yaro, and used his son’s GTBank account to receive N20 millionallegedly paid by Ebenco Global Link Limited.
According to the EFCC, the alleged offences violate various provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, as well as the Money Laundering (Prohibition) Act, 2011, as amended.
Both former refinery executives are expected to enter their pleas when their respective trials begin before the Federal High Court in Abuja.
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