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By Correspondent in Abuja.
The Federal High Court in Abuja has granted an application by the Economic and Financial Crimes Commission (EFCC) for the temporary forfeiture of ₦30.7 million linked to an alleged fraud involving the Nigerian National Petroleum Corporation (NNPC), now Nigerian National Petroleum Company Limited (NNPCL).
Justice Emeka Nwite, in a ruling on the ex-parte motion moved by EFCC counsel, Emenike Mgbemele, held that the application was meritorious and accordingly granted the relief sought.
The judge ordered that the interim forfeiture be published in a national daily, directing interested parties to show cause within 14 days why the funds should not be permanently forfeited to the Federal Government. He adjourned the matter to January 22 for a report on compliance.
Our correspondent recalls that the NNPC was renamed Nigerian National Petroleum Company Limited (NNPCL) on July 19, 2022, in line with the Petroleum Industry Act (PIA) 2021, to reflect its transition to a commercially focused energy company under the administration of late President Muhammadu Buhari.
The EFCC, in the suit marked FHC/ABJ/CS/2775/2025, sought two reliefs through a motion ex-parte dated December 19, 2025, and filed on December 23, 2025, by Ekele Iheanacho, SAN. The motion was argued on January 2 by Mgbemele.
One of the commission’s prayers was for an interim order forfeiting to the Federal Government the sum of ₦30,700,000.00, raised through managers’ cheques listed in a schedule, which the EFCC said were reasonably suspected to be proceeds of unlawful activities.
In advancing the application, the EFCC counsel relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, arguing that the court had the statutory powers to grant the reliefs sought. He described the proceeding as a non-conviction-based asset forfeiture.
According to him, the funds were lodged in four instalments of ₦10 million each and ₦700,000 into the EFCC Recovery Account with United Bank for Africa (UBA), account number 9058700029, via managers’ cheques in the name of “M/C Draft Outstanding Account,” and should be forfeited to the Federal Government.
An EFCC investigator, Bilkisu Abubakar, in an affidavit in support of the motion, said she was assigned to investigate alleged fraudulent activities involving some high-profile officials of the NNPC, alongside other petitions received by the commission.
She stated that following intelligence reports, the investigation team carried out several activities, including inquiries, analysis of financial records from commercial banks, correspondence with agencies such as the Corporate Affairs Commission, as well as inviting and interviewing individuals linked to the probe.
Abubakar said that during the investigation, the name of Mr Adamu Yakubu, a Bureau De Change (BDC) operator, featured prominently,disclosing that Yakubu was invited on September 2, 2025, and he volunteered a statement, submitting a ledger detailing his transactions.
According to her, analysis of the ledger revealed that over ₦4 billion was transferred to the accounts of various individuals and companies on the instructions of one Mr Ibrahim Sani, a staff of the Federal Inland Revenue Service (FIRS).
The investigator further stated that the balance of ₦30.7 million sought to be forfeited remained in Yakubu’s possession from funds he claimed were given to him by Sani.
She said Sani was invited on September 15, 2025, and also volunteered a statement, explaining how he used Yakubu to transfer money to individuals and companies. Sani reportedly admitted depositing large sums of dollars with Yakubu, who then remitted the naira equivalent to beneficiaries provided by him, without verifying the source of the funds.
However, Abubakar said Sani denied ownership of the ₦30.7 million found in Yakubu’s account at the time of investigation, while Yakubu also disclaimed ownership of the funds.
She added that Yakubu raised four managers’ cheques in favour of the EFCC Recovery Account for onward credit to the Federal Government, with copies attached as exhibits.
Abubakar averred that the funds were reasonably suspected to be proceeds of unlawful activities and urged the court to exercise its discretion in granting the interim forfeiture order in the interest of justice, noting that no party would be prejudiced by the grant of the application.
Edited by Dada Ahmed.
