A Federal High Court sitting in Abuja has issued an interim order for the forfeiture of Thirty Million, Seven Hundred Thousand Naira (N30.7 million) suspected to be connected to fraudulent activities within the Nigerian National Petroleum Company Limited (NNPC).
Judge Grants EFCC's Request for Temporary Seizure
Presiding Judge, Justice Emeka Nwite, granted the order on Monday following an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC). The judge ruled that the anti-graft agency presented sufficient grounds to justify the temporary forfeiture of the funds to the Federal Government.
Justice Nwite directed the EFCC to publish the order in a national newspaper, allowing any interested party a 14-day window to appear before the court to show cause why the money should not be permanently forfeited. The case has been adjourned until January 22, 2026, for the commission to file a report confirming compliance with the publication directive.
How the EFCC Uncovered the Suspect Funds
The EFCC informed the court that the N30.7 million was discovered during an investigation into allegations of fraudulent activities involving high-profile officials of the NNPC and other criminal petitions. Their probe led them to Adamu Yakubu, a Bureau De Change (BDC) operator, whose name featured prominently.
Yakubu was invited by the EFCC on September 2, 2025, where he volunteered a statement and submitted a transaction ledger detailing his customers and dollar sales. Analysis of this ledger revealed that over N4 billion was transferred to various individuals and companies on the instruction of one Ibrahim Sani, a staff member of the Federal Inland Revenue Service (FIRS).
The specific N30.7 million subject to the forfeiture order is alleged to have remained in Yakubu's possession from funds given to him by Sani.
FIRS Staff Admits to Using BDC Operator for Transfers
On September 15, 2025, Ibrahim Sani was invited for questioning. He admitted to using Adamu Yakubu to send money to different individuals and companies. Sani confirmed that he deposited large sums of dollars with Yakubu, who would then convert the currency to naira and transfer the equivalent to accounts provided by Sani.
A critical point from the EFCC's submission is that Sani neither verified nor ascertained the source of the monies, which are reasonably suspected to be proceeds of unlawful activities. However, in his statement, Sani denied ownership of the specific N30.7 million found in Yakubu's account at the time.
The interim forfeiture represents a significant step in the EFCC's efforts to recover assets believed to be linked to corruption within Nigeria's critical oil and gas sector. The public awaits the next hearing on January 22 to see if any party will contest the permanent forfeiture of the funds.
