Former Refinery MD Faces EFCC Trial

The Economic and Financial Crimes Commission (EFCC) has arraigned the former Managing Director of the Port Harcourt Refining Company Ltd (PHRC), Ahmed Dikko, before the Federal High Court in Abuja over alleged money laundering involving the purchase of property worth ₦218 million.

Dikko appeared before Justice Inyang Ekwo on Wednesday to answer a 12-count charge filed by the anti-graft agency. He pleaded not guilty to all the charges brought against him.

The EFCC also listed Masterpiece Projects & Investment Ltd as the second defendant in the case. The charge, marked FHC/ABJ/CR/360/2026, was filed on June 22 by the commission’s counsel, Ekele Iheanacho (SAN).

According to the anti-corruption agency, Dikko allegedly used ₦218 million to acquire a property in Abuja in violation of the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

When the matter came up for hearing, the prosecution informed the court that the case was fixed for the defendants to take their plea and indicated its readiness to proceed.

Counsel to the defendants, Ikechukwu Ajunwa (SAN), did not object to the proceedings but asked the court to enter a not guilty plea on behalf of the second defendant, the company.

Following the plea, the prosecution requested that the court fix a date for the commencement of trial.

The defence then informed the court that a bail application had already been filed on behalf of Dikko and that the prosecution had been served with the documents.

The EFCC confirmed receiving the application and disclosed that it had filed a counter-affidavit opposing the request.

While arguing the application, the defence said the motion, filed on July 3, was brought under the provisions of the 1999 Constitution and the Administration of Criminal Justice Act (ACJA), 2015.

The lawyer told the court that Dikko had complied with the conditions of the administrative bail earlier granted by the EFCC by reporting to the commission whenever required. He also argued that the former refinery boss would not abscond or interfere with the trial if granted bail.

In response, the prosecution relied on its counter-affidavit and written address, asking the court to reject the bail application.

After listening to both sides, Justice Ekwo ruled that the court has the discretion to either grant or refuse bail. He stated that since bail is a constitutional right, there must be sufficient reasons before a defendant can be denied the request.

The judge granted Dikko bail in the sum of ₦150 million with one surety in the same amount.

The court directed that the surety must own landed property within the jurisdiction of the court, while the title documents must be submitted for verification by the court registrar.

Justice Ekwo also ordered Dikko to surrender his international passport to the court and ruled that he must not travel outside the country without obtaining the court’s approval.

The matter was adjourned until October 12, 13 and 14 for the commencement of trial.

The EFCC maintained that the alleged offences contravene Sections 2(1)(a) and 19(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and are punishable under Section 19(2)(b) of the same law.