EFCC Charges Ex-Refinery MDs with Money Laundering
The Economic and Financial Crimes Commission (EFCC) has arraigned two former managing directors of Nigeria's state-owned refineries, Ahm Adamu Dikko of the Port Harcourt Refining Company (PHRC) and Jimoh Olasunkanmi Yisawu of the Warri Refining and Petrochemical Company (WRPC), over alleged money laundering related to refinery rehabilitation funds. Dikko faces 12 counts, while Yisawu faces eight counts.
The EFCC accuses Dikko of abusing his position by allegedly receiving funds from contractors handling refinery rehabilitation projects and concealing suspicious payments through large cash transactions outside financial institutions, violating Nigeria's anti-money laundering laws. The charges are part of a broader investigation into the mismanagement of billions of naira allocated for refinery maintenance, which has led to significant recoveries by the EFCC, including N9.4 billion and $21.2 million in assets.
The case is considered one of the largest corruption investigations in Nigeria's oil sector in recent years.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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