EFCC Charges Oil Firm MD with N691.7m Corruption

Musa Farouk Abubakar, the Managing Director of Abu Haneefa Oil and Gas Ltd, was arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of corruption and money laundering amounting to N691.7 million. The arraignment took place at the Federal High Court in Abuja, where Abubakar was charged alongside Sandra Chizoba Attoh.

They faced 15 counts, including conspiracy and money laundering. The EFCC alleged that Abubakar transferred N297 million from Abu Haneefa Oil and Gas Ltd's account at Zenith Bank to Attoh's account at Access Bank on July 21, 2025.

Additionally, he was accused of procuring Attoh to transfer N262.9 million to MShell Home Ltd and Taj Bank for property purchases. Both defendants pleaded not guilty.

The EFCC requested a trial date and sought to remand the defendants in custody. The court granted bail to Attoh at N200 million, requiring two sureties, while Abubakar was remanded pending a bail application hearing scheduled for September 1.