ABUJA, Nigeria (VOICE OF NAIJA)- The Economic and Financial Crimes Commission is set to arraign the former Managing Director of Warri Refining and Petrochemical Company Limited, Jimoh Yisawu, on Friday, and the former Managing Director of Port Harcourt Refining Company Limited, Ahmed Dikko, on Wednesday, over separate money laundering cases involving hundreds of millions of naira and hundreds of thousands of dollars.
Court documents indicate that both cases are before Justice Inyang Ekwo of the Federal High Court in Abuja.
Yisawu is facing an eight-count charge, including allegations of converting $789,950 and $122,600, while Dikko is to answer a 12-count charge linked to financial transactions dating back to 2022.
According to the first count against Yisawu, he allegedly converted a total of $789,950 through one Samaila Bala between October 2023 and May 2025.
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“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 (formerly Nigerian National Petroleum Corporation), 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,” it read.
The second charge alleges that Yisawu made several cash payments exceeding the legal threshold of N5 million, amounting to a total of $789,950, to Samaila Bala without routing the funds through a financial institution, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The EFCC also alleged that between February 2024 and March 2025, Yisawu indirectly converted another $122,600 through Rasheed Yusuf of Rasheedat Anike Global Ventures, with the transactions allegedly carried out in cash outside the banking system.
Another charge accuses him of receiving N25.563 million into his Zenith Bank and Access Bank accounts from Jkpeez Impex Co., a contractor linked to the Nigerian National Petroleum Company Limited, between January and June 2015.
“That you Jimoh Yisawu, the former Managing Director of Warri Refining and Petrochemical Company Ltd, between January and June 2015 in Lagos within the jurisdiction of this honourable court, used the aggregate sum of N25,563,000 received into your Zenith Bank Plc Account No. 1003198602 and Access Bank Plc Account No. 0001283432 from Jkpeez Impex Co. (a contractor with subsidiary of the Nigerian National Petroleum Corporation now Nigerian National Petroleum Company Ltd) when you reasonably ought to have known that the said sum constituted proceed of unlawful activity and you thereby committed an offence contrary to section 15(2)(d) and punishable under section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended,” it added.
Other allegations against Yisawu include transferring N65.86 million to Cordros Securities Limited to purchase treasury bills in his name, as well as retaining N15 million and N3 million 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.
Dikko, on the other hand, is facing 12 charges related to transactions dating back to 2022.
Among the allegations is that in February 2024, he “indirectly made a cash payment of the dollar equivalent of the sum of N218,375,000.00… to one Hadeija Bashir for the purchase of Plot 558, Abubakar Umar Street, Katampe Extension, Abuja,” without processing the payment through a financial institution.
The EFCC further accused him of retaining N100 million and N90 million in separate bank accounts from funds allegedly paid by Ebenco Global Link Limited, a contractor to the Port Harcourt Refining Company, and concealing the source of N90 million through an Access Bank account “operated by Aisha Ahmed Dikko.”
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Another count alleges that Dikko, alongside Masterpiece Projects & Investment Limited, concealed the origin of N328.71 million paid into a GTBank account by OMSA Integrated Services Limited “from the transactions involving NNPC Limited allocation of Vacuum Gas Oil for export.”
Additional charges accuse him of receiving N59.2 million through Masterpiece Projects & Investment Limited, directing one Ebenezar Oluwagbemiga of Ebenco Global Link Limited to receive N356.41 million on his behalf, converting $77,080 through Ibrahim Isa Yaro, and using his son’s GTBank account to receive N20 million allegedly paid by Ebenco Global Link Limited.
The EFCC said the alleged offences contravene various provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, and the Money Laundering (Prohibition) Act, 2011, as amended.