馃嚦馃嚞NigeriaWest Africa
Former Warri and Port Harcourt refinery MDs to face trial over alleged money laundering
via Punch Nigeria3 min read
The Economic and Financial Crimes Commission is preparing to arraign Jimoh Yisawu, former Managing Director of Warri Refining and Petrochemical Company Ltd, and Ahmed Dikko, former Managing Director of Port Harcourt Refining Company Ltd, on separate money laundering charges. Both cases are before Justice Inyang Ekwo of the Federal High Court, Abuja. Yisawu faces eight charges, including alleged conversions of $789,950 and $122,600, and receiving N25,563,000 from a contractor. He is also accused of making cash payments exceeding N5,000,000 without using a financial institution, transferring N65,860,000 to purchase treasury bills, and retaining N15,000,000 and N3,000,000 from a contractor. Dikko faces 12 counts, including allegations of indirectly making a cash payment of the dollar equivalent of N218,375,000 for property purchase without a financial institution, retaining N100,000,000 and N90,000,000 from a contractor, and disguising the origin of N90,000,000 through an account operated by Aisha Ahmed Dikko. He is also accused of disguising the origin of N328,710,337.50 from transactions involving NNPC Limited allocation of Vacuum Gas Oil for export, taking possession of N59,200,000, procuring Ebenezar Oluwagbemiga to take possession of N356,412,500 on his behalf, converting $77,080, and using his son鈥檚 account to control N20,000,000. The alleged offenses contravene various sections of the Money Laundering Prevention and Prohibition Act, 2022, and the Money Laundering Prohibit
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This summary was AI-generated from a story originally published by Punch Nigeria.
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