Ex-Port Harcourt Refinery MD Granted N150M Bail in Fraud Case

Ahm Adamu Dikko, the former Managing Director of Port Harcourt Refining Company Limited, was arraigned on charges of money laundering amounting to N1.32 billion by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court in Abuja. Dikko faced 12 counts, including allegations of disguising the origin of funds and unlawfully converting foreign currency.

The charges stem from transactions related to the rehabilitation of the state-owned refinery, involving payments made to contractors engaged by the Nigerian National Petroleum Company Limited. Dikko pleaded not guilty to all charges.

His defense counsel, Okechukwu Ajunwa, requested bail pending trial, while EFCC counsel Ekel Iheanacho opposed the application. The court, presided over by Justice Inyang Ekwo, granted bail of N150 million, requiring Dikko to provide sureties and surrender his international passport.

The case has been adjourned until October 12, 13, and 14, 2026.