EFCC Files Charges Against Ex-Port Harcourt, Warri Refinery MDs

The Economic and Financial Crimes Commission (EFCC) has filed money laundering charges against the immediate past Managing Director of the Port Harcourt Refining Company (PHRC), Ahmed Adamu Dikko, and his counterpart at the Warri Refining and Petrochemical Company (WRPC), Jimoh Olasunkanmi Yisawu.

Naija News understands that the charges are linked to the alleged diversion of funds released for the rehabilitation and turnaround maintenance of Nigeria’s state-owned refineries.

According to court documents, the EFCC filed a 12-count charge against Dikko and an eight-count charge against Yisawu before the High Court of the Federal Capital Territory, Abuja, on June 22.

The commission accused the former refinery chiefs of abusing their offices, laundering proceeds of unlawful activities, receiving payments from contractors engaged by the Nigerian National Petroleum Company Limited (NNPCL), concealing illicit funds and carrying out large cash transactions in violation of the Money Laundering (Prevention and Prohibition) Act, 2022.

The charges mark the latest development in the EFCC’s investigation into the refinery rehabilitation programme.

The anti-graft agency had earlier recovered over N9.4bn, $21.2m and several landed properties in the ongoing probe.

At the Central Bank of Nigeria’s official rate of N1,380 to a dollar, the $21.2m recovery amounts to about N29.26bn, bringing total cash recoveries so far to about N38.66bn.

Investigators said the recoveries formed part of one of the most extensive probes into funds released for the rehabilitation of Nigeria’s refineries.

Nigeria has four state-owned refineries, including two in Port Harcourt, with a combined installed capacity of 210,000 barrels per day.

The Kaduna Refining and Petrochemical Company has an installed capacity of 110,000 barrels per day, while the Warri refinery has 125,000 barrels per day.

Despite repeated funding over the years, the refineries have remained largely underperforming.

In the charge against Dikko, the EFCC alleged that he engaged in multiple transactions involving proceeds of unlawful activities linked to contractors handling refinery maintenance projects.

One of the counts alleged that in February 2024, while serving as Managing Director of PHRC, he made a cash payment equivalent to N218.375m to purchase a property at Plot 558, Abubakar Umar Street, Katampe Extension, Abuja, without passing through a financial institution.

The commission also alleged that he retained N100m received from Ebenco Global Link Limited, a PHRC contractor, in a Fidelity Bank account between October 2022 and October 2023.

Other counts alleged that Dikko retained N90m allegedly paid by Ebenco Global Link Limited through a GTBank account and concealed the origin of another N90m by routing it through an Access Bank account belonging to Aisha Ahmed Dikko.

He was also accused of receiving N30m through the account of Medinus Mildred Oluba from Ebenco Enterprises, another contractor, as well as retaining N10m from Dogai Global Resources and N4.75m from Gasontex Limited.

According to Premium Times, the EFCC further alleged that Dikko and Masterpiece Projects & Investment Limited concealed the source of N328.71m paid by OMSA Integrated Services Limited from transactions involving NNPC’s allocation of Vacuum Gas Oil for export.

Other counts accused him of receiving N59.2m from funds transferred to Masterpiece Projects & Investment Limited, procuring Ebenezar Oluwagbemiga of Ebenco Global Link Limited to receive N356.41m on his behalf, converting $77,080 through Ibrahim Isa Yaro between October 2022 and May 2025, and receiving N20m through a GTBank account operated by his son, Ahmed Ahmed Dikko.

Count 11 of the charge alleged that Dikko converted an aggregate sum of $77,080 through Ibrahim Isa Yaro, which prosecutors said did not form part of his lawful earnings as a former public officer.

In a separate eight-count charge, the EFCC accused former WRPC Managing Director, Jimoh Yisawu, of laundering large sums through third parties and making prohibited cash payments.

The commission alleged that between October 2023 and May 2025, Yisawu converted $789,950 through one Samaila Bala, an amount prosecutors said could not be traced to his legitimate earnings as a public officer.

He was also accused of making cash payments of the same amount without routing the transactions through financial institutions.

The EFCC further alleged that between February 2024 and March 2025, he converted $122,600 through Rasheed Olaitan Yusuf of Rasheedat Anike Global Ventures and made cash payments above the statutory threshold.

Other counts alleged that Yisawu used N25.56m received from JKpeez Impex Co., a contractor linked to an NNPC subsidiary, transferred N65.86m to Cordros Securities Limited for the purchase of treasury bills, retained N15m allegedly paid by Ebenco Global Link Limited through a Stanbic IBTC account and retained another N3m from the same contractor.

According to the EFCC, the transactions involved proceeds of unlawful activities and violated the Money Laundering (Prohibition) Act, 2011, as amended, and the Money Laundering (Prevention and Prohibition) Act, 2022.