The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned the former managing director of the Port Harcourt Refining Company Limited (PHRC), Ahmed Dikko, before the Federal High Court in Abuja on 12 counts of money laundering involving over N1.3 billion. Dikko was brought before Justice Inyang Ekwo alongside Masterpiece Projects & Investment Limited, a company linked to the alleged offences.
Bail Granted at N150 Million
Both defendants pleaded not guilty to all charges. Defence counsel Ikechukwu Ajunwa, a Senior Advocate of Nigeria (SAN), moved a bail application filed on July 3, arguing that Dikko had complied with administrative bail conditions earlier granted by the EFCC and would not interfere with the trial. Prosecution lawyer Ekele Iheanacho (SAN) opposed the application, citing a counter-affidavit filed on July 7.
Justice Ekwo ruled that bail is a constitutional right and that sufficient material must be presented to justify denial. He granted Dikko bail in the sum of N150 million with one surety. The surety must own landed property within the court's jurisdiction, be a responsible citizen, and submit title documents for verification. Dikko was ordered to deposit his international passport and is prohibited from traveling abroad without court permission.
Details of the Charges
The charges, filed on June 22, allege that Dikko used funds suspected to be proceeds of unlawful activity to acquire a property in Abuja. In count one, the EFCC alleged that in February 2024, Dikko indirectly made a cash payment of N218.375 million to Hadeija Bashir for the purchase of Plot 558, Abubakar Umar Street, Katampe Extension, Abuja, without passing through a financial institution, violating the Money Laundering (Prevention and Prohibition) Act, 2022.
Count two alleges that between October 21 and 25, 2022, Dikko retained N100 million in his Fidelity Bank account, part of payments from Ebenco Global Link Limited, a contractor to PHRC under the Nigerian National Petroleum Company Limited (NNPCL). Count three alleges retention of N90 million in his Guaranty Trust Bank account between December 2022 and December 2023 from the same contractor.
Additional Allegations
Count five alleges that on May 20, 2022, Dikko took control of N30 million paid via Guaranty Trust Bank account operated by Medinus Mildred Oluba, originating from Ebenco Enterprises. Count eight alleges that on June 26, 2023, Dikko disguised the origin of N328.7 million paid into Masterpiece Projects & Investment Limited's account from OMSA Integrated Services Limited, linked to NNPCL's Vacuum Gas Oil export transactions.
Count nine alleges possession of N59.2 million from OMSA Integrated Services Limited to Masterpiece Projects & Investment Limited between August 2023 and January 2024. Count ten alleges that between June 2022 and January 2023, Dikko procured Ebenezar Oluwagbemiga of Ebenco Global Link Limited to receive N356.4 million on his behalf. Count eleven alleges conversion of $77,080 through Ibrahim Isa Yaro between October 2022 and May 2025. Count twelve alleges indirect control of N20 million through his son's bank account between December 2022 and April 2023.
Justice Ekwo adjourned the case to October 12, 13, and 14 for trial commencement.
