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By Victory Oghene
A Federal High Court sitting in Abuja has ordered the interim forfeiture of N30.7 million alleged to be proceeds of fraud linked to some senior officials of the Nigerian National Petroleum Corporation (NNPC).
The order was made by Justice Emeka Nwite while ruling on an ex parte application filed by the Economic and Financial Crimes Commission (EFCC).
The suit, marked FHC/ABJ/CS/2775/2025, was argued on behalf of the anti-graft agency by its counsel, Emenike Mgbemele.
In his ruling, Justice Nwite said he was satisfied that the EFCC had placed sufficient material evidence before the court to justify the request. He consequently granted the application, describing it as meritorious.
The court further directed the EFCC to publish the interim forfeiture order in a national newspaper, inviting any interested parties to show cause within 14 days why the funds should not be permanently forfeited to the Federal Government.
Justice Nwite adjourned the matter to January 22 for the EFCC to confirm compliance with the publication directive.
According to an affidavit in support of the application, the EFCC stated that the N30.7 million is currently domiciled in the commission’s Recovery Account with United Bank for Africa (UBA), under account number 9058700029, listed as a manager’s cheque draft outstanding account.
The commission explained that the funds were uncovered during investigations into alleged fraudulent activities involving high-ranking NNPC officials, as well as other criminal petitions submitted to the agency.
The EFCC added: “In the cause of investigation and analysing some of the documents received from the bank, the name of Mr. Adamu Yakubu, a Bureau De Change (BDC) operator, featured prominently.
“On September 2, 2025, Mr. Yakubu, whose name featured in the cause of investigation, was invited and he volunteered his statement.
“Mr Yakubu submitted a ledger to the commission evidencing records of his transactions wherein the details of customers and the amount of dollars sold by them are recorded.
“Upon analysing the entering in the ledger submitted by Mr Yakubu, it was revealed that over N4, 000, 000, 000.00 (Four Billion Naira) was transferred to the accounts of different individuals and companies on the instruction of one Mr. Ibrahim Sani, a staff of Federal Inland Revenue Services (FIRS).
“It was discovered that the balance of N30.7 million sought to be forfeited was still in possession of Yakubu from the funds which he claimed was given to him by Mr Ibrahim Sani.
“On the 15th day of September 2025, Mr. Ibrahim Sani, a staff of FIRS, whose name appeared on the ledger and who Mr Yakubu claimed owned the N30, 700, OOO (Thirty Million, Seven Hundred Thousand Naira Only) was invited and he volunteered his statement.
“Mr. Ibrahim Sani gave statement on how he had been using Yakubu, the BDC operator, to be sending monies to different individuals and companies.
“Mr.Ibrahim equally confirmed how he usually deposit huge amount of money (Dollars) with Mr Yakubu who in turn sends its naira equivalent to individuals and companies accounts provided by him.
“Mr. Ibrahim neither ascertained nor verified the source of these monies, which he has been depositing with Mr. Yakubu for onward transfer to other people, which are reasonably suspected to be proceeds of unlawful activities.
“Mr. Ibrahim, however, denied ownership of the N30.7 million found in Yakubu’s account as at the time of making his statement.”
The EFCC also reported that Ibrahim asserted that, as of September 15, 2025, Yakubu did not hold any of his money.
The commission added that both Yakubu and Ibrahim denied ownership of the ₦30.7 million discovered in Yakubu’s account.
According to the EFCC, Yakubu has since issued four separate manager’s cheques in the name of the EFCC Recovery Account, payable to the Federal Government of Nigeria.
The agency maintained that the funds in Yakubu’s account, which are now subject to forfeiture, are “proceeds of unlawful activities.”
