Former Port Harcourt Refinery MD Arraigned Over Alleged N218m Money Laundering

(EFCC. Photo by Nation News)

The Economic and Financial Crimes Commission on Wednesday arraigned Ahmed Dikko, former Managing Director of the Port Harcourt Refining Company Limited, over alleged money laundering.

Dikko, who was arraigned before Justice Inyang Ekwo of the Federal High Court in Abuja on a 12-count charge, pleaded not guilty.

According to a news agency, the EFCC, in the charge marked FHC/ABJ/CR/360/2026, named Dikko and Masterpiece Projects & Investment Ltd as first and second defendants.

In the charge, dated and filed on June 22 by the commission's counsel, Ekele Iheanacho, SAN, the anti-graft agency accused Dikko of using N218 million to acquire property in Abuja.

When the case was called, Iheanacho informed the court that the matter was scheduled for the defendants to take their plea and that they were ready to proceed.

Ikechukwu Ajunwa, SAN, did not oppose the application but urged the court to enter a not guilty plea on behalf of the second defendant, the company.

Following the not guilty plea, the prosecution applied for a trial date.

Ajunwa did not oppose the application but informed the court that a bail application had been filed on Dikko's behalf, adding that a copy had also been served on the EFCC.

Iheanacho acknowledged receipt of the process and told the court that a counter affidavit had equally been filed in opposition to the bail request.

Moving the motion, Ajunwa said it was dated and filed on July 3, in line with Sections 34(4) and 36 of the 1999 Constitution and Sections 158 and 156 of the Administration of Criminal Justice Act, 2015.

He said the application sought leave for the defendant to be granted bail, noting that the grounds for the request were contained in the filing.

The lawyer said Dikko would neither jump bail nor interfere with the trial, adding that the first defendant had been reporting to the EFCC's office as part of his administrative bail terms.

Responding, Iheanacho said the commission had filed a counter affidavit on July 7 opposing Dikko's request, urging the court to rely on all the paragraphs contained in it to deny bail to the defendant.

He added that a written submission had also been filed and adopted, urging the court to reject the bail application.

In his ruling, Justice Ekwo held that the court had discretionary power either to grant or deny bail, noting that since bail is a constitutional right of the defendant, substantial evidence must be placed before the court to justify denying such a request.

The judge consequently admitted Dikko to bail in the sum of N150 million with one surety in like sum, who must possess landed property within the jurisdiction of the court.

He ordered that the surety must be a responsible citizen and must submit documents relating to the landed property, which are to be verified by the court registrar.

Justice Ekwo also ordered Dikko to submit his international passport to the court and directed that he must not travel without the court's permission.

The judge thereafter adjourned the matter to October 12, 13 and 14 for the commencement of trial.

According to the news agency, the EFCC said the offence is contrary to Sections 2(1)(a) and 19(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 19(2)(b) of the same Act.