EFCC Secures Court Order to Temporarily Seize N30.7m Linked to NNPC Fraud Probe

A Federal High Court in Abuja has granted the Economic and Financial Crimes Commission an interim order to seize N30.7 million suspected to be linked to fraudulent activities involving officials of the Nigerian National Petroleum Company Limited.

Ruling on an ex parte application on Monday, Justice Emeka Nwite directed the EFCC to publish the forfeiture notice in a newspaper, giving any interested parties 14 days to contest the seizure. The case was adjourned to January 22 for a compliance report.

In its affidavit, the EFCC stated the funds were traced during investigations into petitions involving NNPC officials. The money was found in a United Bank for Africa account held by a Bureau de Change operator, Adamu Yakubu.

Investigations revealed that over N4 billion was transferred through Yakubu on the instruction of Ibrahim Sani, a staff member of the Federal Inland Revenue Service. Sani allegedly deposited dollars with the BDC operator, who then sent the naira equivalent to various individuals and companies.

Both Yakubu and Sani have denied ownership of the balance of N30.7 million, which the EFCC argues is the proceeds of unlawful activities. The commission cited the Advance Fee Fraud Act in seeking the forfeiture.

The interim order is part of Nigeria’s asset recovery process, allowing the EFCC to preserve suspected illicit funds while affected parties can challenge the forfeiture in court.