Court grants EFCC interim forfeiture order in NNPC’s alleged fraud

A Federal High Court in Abuja has issued an order granting an  interim forfeiture of of N30,700, 000.00 the Economic and Financial Crimes Commission (EFCC) claimed was associated with an alleged fraud perpetrated by some senior officiala of the Nigerian National Petroleum Corporation (NNPC).

Justice Emeka Nwite issued the order while ruling on an ex-parte motion, marked:FHC/ABJ/CS/2775/2025, filed by the EFCC and moved last Friday by its lawyer, Emenike Mgbemele.

Justice Nwite held, in the ruling, that having considered all the material evidence placed before the court by the applicant, the application was meritorious and ought to be granted.

The judge ordered the EFCC to publish the interim order of forfeiture in a national daily for interested persons to show cause, within 14 days, why the funds should not be permanently forfeited to the Federal Government.

He then adjourned till January 22 for the EFCC to report its compliance with the order for publication.

The EFCC, in a supporting affidavit, said the funds are currently lodged in EFCC’s Recovery Account with United Bank for Africa (UBA) in account number: 9058700029 with manager’s cheque name: M/C Draft Outstanding Account, be forfeited to the Federal Government.

It stated, in a supporting affidavit, that the funds were discoverd while investigating allegations of fraudulent activities of some high profile officials of the NNPC as well as other criminal petitions brought to the commission.

The EFCC added: “In the cause of investigation and analysing some of the documents received from the bank, the name of Mr. Adamu Yakubu, a Bureau De Change (BDC) operator, featured prominently.

“On September 2, 2025, Mr. Yakubu, whose name featured in the cause of investigation, was invited and he volunteered his statement.

 “Mr Yakubu submitted a ledger to the commission evidencing records of his transactions wherein the details of customers and the amount of dollars sold by them are recorded.

 “Upon analysing the entering in the ledger submitted by Mr Yakubu, it was revealed that over N4, 000, 000, 000.00 (Four Billion Naira) was transferred to the accounts of different individuals and companies on the instruction of one Mr. Ibrahim Sani, a staff of Federal Inland Revenue Services (FIRS).

“It was discovered that the balance of N30.7 million sought to be forfeited was still in possession of Yakubu from the funds which he claimed was given to him by Mr Ibrahim Sani.

 “On the 15th day of September 2025, Mr. Ibrahim Sani, a staff of FIRS, whose name appeared on the ledger and who Mr Yakubu claimed owned the N30, 700, OOO (Thirty Million, Seven Hundred Thousand Naira Only) was invited and he volunteered his statement.

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“Mr. Ibrahim Sani gave statement on how he had been using Yakubu, the BDC operator, to be sending monies to different individuals and companies.

 “Mr.Ibrahim equally confirmed how he usually deposit huge amount of money (Dollars) with Mr Yakubu who in turn sends its naira equivalent to individuals and companies accounts provided by him.

 “Mr. Ibrahim neither ascertained nor verified the source of these monies, which he has been depositing with Mr. Yakubu for onward transfer to other people, which are reasonably suspected to be proceeds of unlawful activities.

“Mr. Ibrahim, however, denied ownership of the N30.7 million found in Yakubu’s account as at the time of making his statement.”

The EFCC further stated that Ibrahim claimed that Yakubu was not holding any of his money as at September 15, 2025.

It added that Yakubu and Ibrahim denied ownership of the said N30.7 million found in the account of the former (Yakubu).

The EFCC stated Mr. Yakubu has since raised four different managers’ cheques in the name of the EFCC Recovery Account in favour of the Federal Government of Nigeria.

It added  that the source of the funds sought to be forfeited in the account of Mr. Yakubu “is proceeds of unlawful activities.”