A Federal High Court in Abuja has ordered the interim forfeiture of N30.7 million believed to be connected to an ongoing investigation into alleged fraudulent activities involving senior officials of the Nigerian National Petroleum Corporation.
Justice Emeka Nwite made the order while delivering a ruling on an ex parte application filed by the Economic and Financial Crimes Commission (EFCC) in suit number FHC/ABJ/CS/2775/2025.
The motion, argued last Friday by EFCC counsel, Emenike Mgbemele, requested the temporary forfeiture of the funds pending the conclusion of investigations and the determination of claims by any interested parties.
In his decision, Justice Nwite stated that the EFCC had presented adequate material evidence to warrant the grant of the application.
He accordingly ordered that the sum of N30.7 million be forfeited on an interim basis and directed the anti-graft agency to publish the forfeiture order in a national daily newspaper.
The court explained that the publication would give any interested individual a 14-day window to appear and show cause why the funds should not be permanently forfeited to the Federal Government.
Justice Nwite adjourned the matter to January 22, 2026, to enable the EFCC report back to the court on its compliance with the publication order.
The EFCC informed the court that the money is currently domiciled in its Recovery Account with United Bank for Africa (UBA), account number 9058700029, under a manager’s cheque draft outstanding account.
According to the commission, the funds were discovered during investigations into alleged fraudulent dealings involving some high-ranking NNPC officials, as well as other criminal petitions received by the agency.
In an affidavit supporting the application, the EFCC stated that its probe led investigators to a Bureau De Change (BDC) operator, Mr. Adamu Yakubu, whose name featured prominently during the review of banking records obtained in the course of the investigation.
The commission said Yakubu was invited for questioning on September 2, 2025, and voluntarily provided a statement.
It added that Yakubu submitted a ledger containing details of his transactions, including customer names and the amounts of foreign currency exchanged.
An analysis of the ledger allegedly showed that more than N4 billion had been transferred into the accounts of several individuals and companies based on instructions from one Mr. Ibrahim Sani, identified as a staff member of the Federal Inland Revenue Service (FIRS).
The EFCC further stated that investigations revealed the N30.7 million sought to be forfeited was the remaining balance in Yakubu’s custody from funds he claimed were given to him by Sani.
On September 15, 2025, Sani was also invited by the EFCC and voluntarily made a statement to investigators.
In his statement, Sani reportedly admitted engaging Yakubu to transfer funds to multiple individuals and companies, explaining that he frequently deposited large sums, mainly in foreign currency, with the BDC operator, who would then remit the naira equivalent to designated accounts.
However, the EFCC noted that Sani failed to confirm the source of the funds, which investigators reasonably suspect to be proceeds of unlawful activities.
The commission added that Sani later denied ownership of the N30.7 million found in Yakubu’s account during the investigation, claiming that Yakubu was not holding any of his funds as of September 15, 2025.
The EFCC said both Yakubu and Sani have denied ownership of the money.
It further disclosed that Yakubu has since issued four separate managers’ cheques in the name of the EFCC Recovery Account in favour of the Federal Government of Nigeria.
The commission maintained that the funds in question are proceeds of unlawful activities and should be permanently forfeited to the Federal Government upon the conclusion of the case.
