A Federal High Court sitting in Abuja has ordered the interim forfeiture of ₦30.7 million believed to be proceeds of fraud linked to the Nigerian National Petroleum Corporation Limited (NNPCL).
Justice Emeka Nwite granted the order on Monday after ruling that an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC) had merit. The court directed that the funds be temporarily forfeited to the Federal Government.
The judge also ordered that the forfeiture notice be published in a national newspaper to allow any interested party 14 days to explain why the money should not be permanently confiscated. The case was adjourned to January 22 for an update on compliance.
The application, filed under suit number FHC/ABJ/CS/2775/2025, was submitted by the EFCC on December 23, 2025 and argued in court on January 2, 2026.
EFCC counsel Emenike Mgbemele told the court that the request was made under Section seventeen of the Advance Fee Fraud and Other Fraud Related Offences Act of 2006. He explained that the process was a non conviction based asset forfeiture proceeding.
According to the commission, the funds were deposited into the EFCC recovery account with United Bank for Africa (UBA) through four managers cheques. Three of the cheques were valued at ₦10 million each, while the fourth was ₦700,000 All were issued under the name M/C Draft Outstanding Account.
In an affidavit supporting the application, EFCC investigator Bilkisu Abubakar said she was assigned to investigate allegations of fraud involving senior officials of the NNPC following petitions received by the commission.
She explained that the investigation involved intelligence gathering, bank enquiries, analysis of financial records and engagement with agencies such as the Corporate Affairs Commission. The probe also included questioning individuals linked to the transactions.
Abubakar revealed that a bureau de change operator, Adamu Yakubu, featured prominently in the financial trail uncovered during the investigation. Yakubu was invited by the EFCC in September 2025 and reportedly submitted a transaction ledger detailing customer records and foreign exchange sales.
Analysis of the ledger allegedly showed that more than four billion naira was transferred to various individuals and companies on the instruction of Ibrahim Sani, identified as a staff member of the Federal Inland Revenue Service.
Sani was invited by the EFCC later that month and admitted using Yakubu to move funds to multiple beneficiaries. He also confirmed depositing large sums of foreign currency with Yakubu, who would then distribute the naira equivalent to accounts provided by him.
The investigator stated that Sani did not verify the source of the funds, raising strong suspicion that the money was derived from unlawful activities.
However, both Sani and Yakubu denied ownership of the ₦30.7 million. Yakubu subsequently issued managers cheques transferring the funds to the EFCC recovery account, with copies attached to the court application.
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