EFCC Arraigns Ex-Port Harcourt Refinery MD In N1.32bn Fraud Case

The Economic and Financial Crimes Commission has arraigned Ahmed Dikko, the immediate past Managing Director of the Port Harcourt Refining Company Limited, before the Federal High Court in Abuja.

Dikko was arraigned on Wednesday before Justice Inyang Ekwo on a 12-count charge linked to an alleged N1.32bn money laundering scheme. Masterpiece Projects and Investment Limited was also listed in the case.

He pleaded not guilty to the charges.

The EFCC alleged that the money was connected to contractors engaged by the Nigerian National Petroleum Company Limited for the rehabilitation of the Port Harcourt refinery. The commission accused Dikko of using cash property purchases, undisclosed bank retentions, third-party concealment and unauthorised foreign exchange transactions.

One of the counts accused him of making a cash payment equivalent to N218.375m for a property in Katampe Extension, Abuja, without passing the transaction through a financial institution.

The court granted him bail of N150m, according to the reports.

Sources: Punch, Vanguard