Former Managing Directors of the Warri Refining and Petrochemical Company (WRPC) and the Port Harcourt Refining Company (PHRC) are set to be arraigned by the Economic and Financial Crimes Commission (EFCC) over separate allegations of money laundering involving $989,630 and more than ₦1.42 billion.
Court documents filed before the Federal High Court in Abuja show that the former Managing Director of WRPC, Jimoh Yisawu, will be arraigned on Friday, while the former Managing Director of PHRC, Ahmed Dikko, is scheduled to appear before the court on Wednesday. Both cases are before Justice Inyang Ekwo.
According to the charge sheet, Yisawu is facing eight counts bordering on the alleged conversion and laundering of funds while serving as Managing Director of the Warri refinery. The EFCC alleged that between October 2023 and May 2025, he indirectly converted $789,950 through one Samaila Bala, funds the commission claimed were proceeds of unlawful activities and outside his legitimate earnings as a public official.
The anti-graft agency further alleged that Yisawu made multiple cash payments exceeding the legal threshold without routing the transactions through financial institutions, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022. He is also accused of converting an additional $122,600 through Rasheed Yusuf of Rasheedat Anike Global Ventures between February 2024 and March 2025.
In another count, the EFCC alleged that Yisawu received ₦25.563 million into his Zenith Bank and Access Bank accounts from Jkpeez Impex Company, a contractor linked to the Nigerian National Petroleum Company (NNPC) Limited, between January and June 2015, despite allegedly knowing the funds were proceeds of unlawful activities. He is also accused of transferring ₦65.86 million to Cordros Securities Limited to purchase treasury bills and retaining ₦18 million allegedly paid on behalf of Ebenco Global Link Limited, another contractor to NNPC Limited.
Dikko, the former Managing Director of the Port Harcourt Refining Company, is facing 12 counts of alleged money laundering involving large cash transactions, concealment of funds and unlawful possession of assets.
The EFCC alleged that in February 2024, Dikko indirectly paid the naira equivalent of ₦218.375 million in cash through one Hadeija Bashir for the purchase of a property located at Plot 558, Abubakar Umar Street, Katampe Extension, Abuja, without using a financial institution as required by law.
The commission also accused him of retaining ₦100 million and ₦90 million allegedly received from Ebenco Global Link Limited, a contractor to the Port Harcourt refinery. Investigators further alleged that he concealed the origin of ₦90 million through an Access Bank account operated by Aisha Ahmed Dikko.
Other charges allege that Dikko, alongside Masterpiece Projects & Investment Limited, disguised the source of ₦328.71 million received from OMSA Integrated Services Limited through transactions involving NNPC Limited's allocation of Vacuum Gas Oil (VGO) for export. The EFCC also alleged that he took possession of ₦59.2 million, procured another individual to receive ₦356.41 million on his behalf, converted $77,080 through Ibrahim Isa Yaro and used his son's GTBank account to control ₦20 million allegedly paid by Ebenco Global Link Limited.
The commission said the offences contravene various provisions of the Money Laundering (Prevention and Prohibition) Act, 2022, as well as the Money Laundering (Prohibition) Act, 2011 (as amended). The defendants are expected to enter their pleas when they appear before the Federal High Court on their respective arraignment dates.