EFCC Charges Ex-MD Dikko with N1.32bn Money Laundering

On July 8, 2026, the Economic and Financial Crimes Commission (EFCC) arraigned Ahm Adamu Dikko, the former Managing Director of Port Harcourt Refinery Company Ltd (PHRC), before Justice Inyang Ekwo at the Federal High Court in Abuja. Dikko faces 12 counts of money laundering, allegedly involving N1,322,839,112.7, linked to a contractor engaged by the Nigerian National Petroleum Company Ltd (NNPCL) for the rehabilitation of the refinery.

The charges include unauthorized currency conversion and disguising the origins of funds. Dikko pleaded not guilty to all charges.

His counsel, Okechukwu Ajunwa, requested bail, which was opposed by the prosecution. Justice Ekwo granted bail at N150 million, requiring Dikko to provide sureties and remain in EFCC custody until bail conditions are met.

The trial is scheduled for October 12, 13, and 14, 2026. Dikko was appointed MD of PHRC in March 2020 to oversee the refinery's rehabilitation.