ABUJA — The Economic and Financial Crimes Commission (EFCC) has arraigned the immediate past Managing Director of the Port Harcourt Refining Company (PHRC), Ahmed Dikko, before the Federal High Court in Abuja on allegations of money laundering involving N218.4 million.
Dikko was docked alongside Masterpiece Projects & Investment Ltd on a 12-count charge alleging violations of the Money Laundering (Prevention and Prohibition) Act, 2022.
According to the EFCC, the former refinery chief allegedly used about N218.4 million to acquire a property in the Katampe Extension area of Abuja without processing the transaction through a financial institution, an act the commission said contravenes the provisions of the anti-money laundering law.
When the charges were read in court, Dikko pleaded not guilty to all counts.
Following the plea, prosecution counsel, Ekele Iheanacho (SAN), requested that the court fix a date for trial.
Counsel for the defendants, Ikechukwu Ajunwa (SAN), urged the court to grant his client bail, arguing that Dikko had complied with the conditions of the administrative bail earlier granted by the EFCC. He also assured the court that the former managing director would remain available for trial and would not interfere with the judicial process.
The prosecution opposed the application, relying on documents already filed before the court.
In his ruling, Justice Inyang Ekwo admitted the defendant to bail in the sum of N150 million with one surety in like sum.
The court directed that the surety must own landed property within the jurisdiction of the court and submit relevant title documents for verification. The judge also ordered Dikko to deposit his international passport with the court and prohibited him from travelling outside Nigeria without prior judicial approval.
The case was adjourned until October 12, 13 and 14 for the commencement of trial.
The arraignment comes weeks after the EFCC filed separate charges against Dikko and the former Managing Director of the Warri Refining and Petrochemical Company (WRPC), Jimoh Yisawu, over the alleged diversion of funds allocated for the rehabilitation of government-owned refineries.
In addition to the property acquisition allegation, the anti-graft agency accused Dikko of allegedly receiving and retaining funds from contractors engaged by the Nigerian National Petroleum Company (NNPC) Limited, concealing the source of part of the funds through third parties, and conducting financial transactions said to be in breach of the Money Laundering (Prevention and Prohibition) Act, 2022.
The charges are yet to be determined by the court, and the defendant is presumed innocent until proven guilty in accordance with Nigerian law.