Former top executives of Warri and Port Harcourt refineries to stand trial for suspected theft of $989,630 and N1.42 billion

The Economic and Financial Crimes Commission is set to arraign two former managing directors, Jimoh Yisawu of Warri Refining and Petrochemical Company Ltd and Ahmed Dikko of Port Harcourt Refining Company Ltd, on separate money laundering charges involving hundreds of millions of naira and hundreds of thousands of dollars, with Yisawu's arraignment scheduled for Friday and Dikko's for Wednesday.

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Court documents reveal that both cases are before Justice Inyang Ekwo of the Federal High Court, Abuja, with Yisawu facing eight charges and Dikko facing 12 counts, covering transactions dating back to 2022.

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Yisawu's charges include the alleged conversion of $789,950 and $122,600, with the first count stating that between October 2023 and May 2025, he indirectly converted $789,950 through one Samaila Bala, an amount that did not form part of his known lawful earnings as a former public officer with the Nigerian National Petroleum Company Ltd.

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The charge against Yisawu reads: "That you, Jimoh Olasunkanmi Yisawu, the former Managing Director of Warri Refining and Petrochemical Company Ltd, between October 2023 and May 2025 in Abuja, within the jurisdiction of this honourable court, indirectly converted the aggregate sum of $789,950 through Samaila Bala, which amount did not form part of your known lawful earnings as a former public officer with the Nigerian National Petroleum Company Ltd, when you knew that the said sum of $789,950 constituted proceeds of unlawful activity, and you thereby committed an offence contrary to Section 18(2)(b) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022."

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Count 2 alleges that Yisawu made various cash payments in excess of N5,000,000, equivalent to $789,950, to Samaila Bala without going through a financial institution, an offence that contravenes the Money Laundering (Prevention and Prohibition) Act, 2022.

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Further charges against Yisawu include the indirect conversion of $122,600 through Rasheed Yusuf of Rasheedat Anike Global Ventures between February 2024 and March 2025, allegedly in cash and outside the banking system.

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Another count alleges that Yisawu used N25,563,000 received into his bank accounts from Jkpeez Impex Co, a contractor with a subsidiary of the Nigerian National Petroleum Corporation, between January and June 2015, when he reasonably ought to have known that the sum constituted proceeds of unlawful activity.

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Other charges against Yisawu include transferring N65,860,000 to Cordros Securities Limited to purchase treasury bills in his name, and retaining N15,000,000 and N3,000,000 paid into his Stanbic IBTC account by one Olasinka Fragene Justice on behalf of Ebenco Global Link Limited, a contractor to the Nigerian National Petroleum Company Limited.

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For Dikko, the EFCC filed 12 charges, including allegations linked to transactions dating back to 2022, such as indirectly making a cash payment of the dollar equivalent of N218,375,000 to one Hadeija Bashir for the purchase of a plot of land in Abuja in February 2024, without passing the funds through a financial institution.

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Dikko is also accused of retaining N100,000,000 and N90,000,000 in separate bank accounts from money paid by Ebenco Global Link Limited, a contractor to PHRC, and of disguising the origin of N90,000,000 through an Access Bank account operated by Aisha Ahmed Dikko.

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Count 8 alleges that Dikko, alongside Masterpiece Projects & Investment Limited, disguised the origin of N328,710,337.50 paid into a GTBank account by OMSA Integrated Services Limited from the transactions involving NNPC Limited allocation of Vacuum Gas Oil for export.

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Further counts accuse Dikko of taking possession of N59,200,000 from funds routed through Masterpiece Projects & Investment Limited, procuring one Ebenezar Oluwagbemiga of Ebenco Global Link Limited to take possession of N356,412,500 on his behalf, converting $77,080 through Ibrahim Isa Yaro, and using his son's GTBank account to take control of N20,000,000 paid by Ebenco Global Link Limited.

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All the offences are said to contravene various sections of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Money Laundering (Prohibition) Act, 2011, as amended.