Ex-MDs of Warri, PH Refineries Face Fraud Trials

Jimoh Yisawu, former managing director of Warri Refinery and Petrochemical Company Ltd, and Ahm Dikko, former managing director of Port Harcourt Refinery Company Ltd, are set to face trials over alleged fraud totaling $989,630 and N1.42 billion. The Economic and Financial Crimes Commission (EFCC) has filed charges against both individuals, with Yisawu facing eight counts related to the alleged conversion of funds amounting to $789,950 and cash payments exceeding N5 million without going through financial institutions.

The charges against Dikko include 12 counts involving transactions dating back to 2022, including allegations of cash payments totaling $218,375,000 and retaining large sums in separate bank accounts. The trials are scheduled to commence in October 2023, with the court proceedings taking place at the Federal High Court in Abuja.