The Economic and Financial Crimes Commission has brought former Managing Director of the Port Harcourt Refining Company Limited, Ahmed Dikko, before the Federal High Court in Abuja over an alleged N1.32bn money laundering case tied to the rehabilitation of the refinery.
Dikko, who served as managing director from March 2020 for about four years, was arraigned on Wednesday before Justice Inyang Ekwo alongside Masterpiece Projects & Investment Limited on a 12-count charge. He denied all the allegations.
The anti-graft agency accused him of laundering more than N1.32bn allegedly linked to contractors engaged by the Nigerian National Petroleum Company Limited for the refinery project. The EFCC claimed the funds were concealed through property acquisitions, third-party transactions, undisclosed bank holdings and unauthorised foreign exchange dealings.
One of the charges read, “That you, Ahmed Adamu Dikko… did directly make cash payment of the dollar equivalent of the sum of N218,375,000 to one Hadeija Bashir for the purchase of Plot 558, Abubakar Umar Street, Katampe Extension, Abuja without passing through a financial institution.”
Another count alleged, “That you Ahmed Adamu Dikko… on or about the 26th of June, 2023… disguised the origin of the sum of N328,710,337.50 paid into the GTBank Account… operated by Masterpiece Projects & Investment Limited by OMSA Integrated Services Limited from the transactions involving NNPC Limited allocation of Vacuum Gas Oil for export when you knew that the said sum… constituted proceeds of unlawful activity.”
The commission further alleged, “That you, Ahmed Adamu Dikko between October 2022 and May 2025, did convert the aggregate sum of $77,080 through Ibrahim Isa Yaro, which amount did not form part of your known lawful earnings as a former public officer with the Nigerian National Petroleum Company Ltd.”
After Dikko pleaded not guilty, his lawyer, Okechukwu Ajunwa (SAN), applied for bail, while the prosecution opposed the request.
Justice Ekwo granted the former refinery boss bail in the sum of N150m with one surety in like sum. The court ruled that the surety must live within its jurisdiction and own landed property worth at least the bail amount.
The judge also ordered Dikko to hand over his international passport and remain in EFCC custody until he satisfies the bail conditions. The matter was adjourned until October 12, 13 and 14, 2026, for the commencement of trial.