A Federal High Court in Abuja has ordered the interim forfeiture of ₦30.7 million suspected to be proceeds of fraud linked to the Nigerian National Petroleum Company Limited.
Justice Emeka Nwite gave the order on Monday after granting an ex parte application filed by the Economic and Financial Crimes Commission. The judge directed that the money be temporarily forfeited to the federal government and asked that the ruling be published in a national newspaper to allow anyone with an interest in the funds to come forward.
The court said interested parties have 14 days to show cause why the money should not be permanently forfeited. The case was adjourned to January 22, 2026, for a compliance report.
According to the EFCC, the application was filed on December 23, 2025, and moved on January 2, 2026. Prosecutors told the court that the ₦30.7 million was reasonably suspected to be proceeds of unlawful activity and that the action was brought under the Advance Fee Fraud and Other Fraud Related Offences Act. They explained that the process is a non conviction based forfeiture.
The commission said the funds were paid into its recovery account with United Bank for Africa through four managers’ cheques. Three of the cheques were valued at ₦10 million each, while the fourth was ₦700,000. All were issued in the name “M/C Draft Outstanding Account.”
In an affidavit, an EFCC investigator said the commission began investigations after receiving petitions alleging fraud involving senior officials of the NNPC. The probe involved intelligence gathering, bank inquiries, analysis of financial records, and correspondence with relevant agencies, including the Corporate Affairs Commission.
Investigators identified Adamu Yakubu, a bureau de change operator, as a key figure in the transactions under review. He was said to have submitted transaction records and customer details after making a voluntary statement to the EFCC in September 2025.
The EFCC said analysis of the records showed that more than ₦4 billion was transferred to several individuals and companies on the instructions of Ibrahim Sani, identified as a staff member of the Federal Inland Revenue Service. Sani reportedly admitted to using Yakubu to move funds and to depositing large sums in foreign currency, which were converted to naira and paid into accounts he provided. Investigators said he failed to verify the source of the funds.
The commission added that the ₦30.7 million remained with Yakubu and formed part of the money allegedly supplied by Sani. Both men denied ownership of the funds. Yakubu later raised four managers’ cheques in favour of the EFCC recovery account, copies of which were presented before the court.
The court will decide whether the money should be permanently forfeited after the expiration of the 14 day notice period.
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