Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
The Economic and Financial Crimes Commission (EFCC) on Wednesday, 8 July 2026, arraigned the immediate past Managing Director of the Port Harcourt Refining Company Ltd (PHRC), Ahmed Adamu Dikko, before the Federal High Court in Abuja on a 12-count charge bordering on money laundering, unlawful possession of proceeds of crime, and concealment of illicit funds. Dikko pleaded not guilty to all the charges.
The anti-graft agency, in the charge marked FHC/ABJ/CR/360/2026, named Dikko and Masterpiece Projects & Investment Ltd as first and second defendants. The charges were dated and filed on 22 June 2026 by the commission's counsel, Ekele Iheanacho, SAN. Justice Inyang Ekwo presided over the proceedings.
According to the charge sheet, the EFCC accused Dikko of making a cash payment equivalent to N218.375 million in February 2024 to one Hadeija Bashir for the purchase of Plot 558, Abubakar Umar Street, Katampe Extension, Abuja, without routing the transaction through a financial institution, contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
The commission further alleged that between October 2022 and May 2025, Dikko received and retained funds traced to contractors handling projects for PHRC. Specifically, prosecutors alleged that between 21 and 25 October 2022, Dikko retained N100 million in his Fidelity Bank account, funds allegedly paid by Ebenco Global Link Limited, a contractor to PHRC under the NNPCL, knowing they were proceeds of unlawful activity. The EFCC also alleged that between December 2022 and December 2023, he retained another N90 million in his GTBank account from the same contractor.
In another count, prosecutors accused Dikko of taking control of N30 million in May 2022 through a GTBank account operated by one Medinus Mildred Oluba, allegedly on behalf of Ebenco Enterprises, another PHRC contractor. The anti-graft agency further alleged that Dikko disguised the origin of N328.71 million paid into the account of Masterpiece Projects & Investment Limited by OMSA Integrated Services Limited from transactions involving NNPCL's allocation of Vacuum Gas Oil for export.
When the case was called on Wednesday, Iheanacho informed the court that the matter was scheduled for the defendants to take their plea and that they were ready to proceed. Defence counsel Ikechukwu Ajunwa, SAN, did not oppose the arraignment but urged the court to enter a not guilty plea for the corporate defendant. Following the plea, the prosecution applied for a trial date.
Ajunwa informed the court that a bail application had been filed on behalf of Dikko, arguing that his client had consistently honoured EFCC invitations while enjoying administrative bail and posed no flight risk. The prosecution opposed the application, relying on a counter-affidavit and written address filed on 7 July 2026.
In his ruling, Justice Ekwo held that while the grant of bail remains discretionary, the Constitution recognises it as a right that can only be denied where substantial reasons are established. He consequently admitted Dikko to bail in the sum of N150 million with one surety in like sum. The surety must own landed property within the jurisdiction of the court, with title documents to be verified by the court registrar. Justice Ekwo also ordered Dikko to surrender his international passport and barred him from travelling outside Nigeria without prior court approval.
The judge adjourned the matter until 12, 13 and 14 October 2026 for the commencement of trial.
The EFCC said the offences are contrary to Sections 2(1)(a), 19(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 19(2)(b) of the same Act. Dikko's arraignment is part of a broader probe into the controversial turnaround maintenance of Nigeria's state-owned refineries. The anti-graft agency has also filed an eight-count charge against the former Managing Director of the Warri Refinery, Jimoh Yisawu.
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