The Economic and Financial Crimes Commission, EFCC, has arraigned Ahmed Adamu Dikko, former Managing Director of the Port Harcourt Refining Company, PHRC, over alleged money laundering and suspicious transactions linked to the controversial rehabilitation of Nigeria’s state-owned refineries.
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Dikko is facing a 12-count charge before the High Court of the Federal Capital Territory, Abuja, over allegations that he engaged in multiple transactions involving proceeds of unlawful activities connected to contractors handling refinery maintenance projects.
The case is part of the EFCC’s wider investigation into alleged diversion of funds released for the rehabilitation and turnaround maintenance of the Port Harcourt, Warri and Kaduna refineries.
According to court documents, the anti-graft agency alleged that Dikko, while serving as Managing Director of PHRC, made a cash payment of ₦218.375 million in February 2024 to purchase a property at Plot 558, Abubakar Umar Street, Katampe Extension, Abuja, without passing the transaction through a financial institution.
The EFCC also accused him of retaining ₦100 million allegedly received from Ebenco Global Link Limited, a contractor to PHRC, in a Fidelity Bank account between October 2022 and October 2023.
In other counts, the commission alleged that Dikko retained ₦90 million allegedly paid by Ebenco Global Link Limited through a GTBank account and concealed the origin of another ₦90 million by routing the funds through an Access Bank account belonging to Aisha Ahmed Dikko.
The former refinery boss was also accused of receiving ₦30 million through the account of Medinus Mildred Oluba from Ebenco Enterprises, another contractor, as well as retaining ₦10 million allegedly paid by Dogai Global Resources and ₦4.75 million from Gasontex Limited.
The EFCC further alleged that Dikko and Masterpiece Projects & Investment Limited concealed the source of ₦328.71 million paid by OMSA Integrated Services Limited from transactions involving NNPC’s allocation of Vacuum Gas Oil for export.
Other counts alleged that he received ₦59.2 million from funds transferred to Masterpiece Projects & Investment Limited, procured Ebenezar Oluwagbemiga of Ebenco Global Link Limited to receive ₦356.41 million on his behalf, converted $77,080 through Ibrahim Isa Yaro between October 2022 and May 2025, and received ₦20 million through a GTBank account operated by his son, Ahmed Ahmed Dikko.
The commission said the transactions involved proceeds of unlawful activities and breached provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
Dikko’s arraignment comes after earlier reports that the EFCC had recovered billions of naira, millions of dollars and several landed properties in connection with its investigation into the refinery rehabilitation funds.
The EFCC investigation reportedly covers former and serving officials of the Nigerian National Petroleum Company Limited, NNPCL, its subsidiaries, former refinery managing directors and contractors involved in the rehabilitation projects.
The Federal Government, through NNPCL, awarded contracts worth about $2.79 billion between 2021 and 2023 for quick-fix repairs, turnaround maintenance and rehabilitation of the Port Harcourt, Warri and Kaduna refineries.
The contracts included about $1.56 billion for the Port Harcourt Refining Company, $492.3 million for Warri Refining and Petrochemical Company, and $740.7 million for Kaduna Refining and Petrochemical Company.
Investigators alleged that despite the huge sums released, there was no commensurate improvement in the operational status of the refineries.
The EFCC had earlier traced ₦983.9 million, $227,030 and three landed properties to Dikko, assets investigators said he could not satisfactorily explain.
A separate charge was also filed against Jimoh Yisawu, former Managing Director of the Warri Refining and Petrochemical Company, over alleged laundering of funds linked to the refinery rehabilitation programme.
Yisawu is facing an eight-count charge involving alleged conversion of foreign currency, cash transactions outside financial institutions and retention of funds allegedly received from contractors.
The latest arraignment marks another phase in the anti-graft agency’s probe into the multi-billion-dollar refinery rehabilitation programme, which has remained under scrutiny following repeated delays, shutdowns and public concern over the state of Nigeria’s refineries.
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