EFCC Arraigns Oil Firm MD, Two Others Over Alleged N691.7 Million Fraud
EFCC Arraigns Oil Firm MD, Two Others Over Alleged N691.7 Million Fraud
EFCC Arraigns Oil Firm MD, Two Others Over Alleged N691.7 Million Fraud
The Economic and Financial Crimes Commission (EFCC) has arraigned the Managing Director of Abu-Haneefa Oil and Gas Ltd, Musa Farouk Abubakar, alongside his company and Sandra Chizoba Attoh before the Federal High Court in Abuja over an alleged N691.7 million fraud and money laundering case.
The defendants were brought before Justice Obiora Egwuatu on Wednesday, June 3, 2026, on an amended 15-count charge bordering on conspiracy, corruption and money laundering involving N691,677,310.
According to the EFCC, the defendants allegedly engaged in transactions involving proceeds suspected to have originated from unlawful activities.
One of the charges alleges that Musa Farouk Abubakar, in his capacity as Managing Director of Abu-Haneefa Oil and Gas Ltd, transferred N297 million from the company’s Zenith Bank account to an account belonging to Sandra Chizoba Attoh in July 2025, despite allegedly knowing that the funds were proceeds of corruption.
The anti-graft agency further alleged that Abubakar later procured Attoh to transfer N262.8 million from her Access Bank account to the account of Mshell Homes Ltd with Taj Bank for the purchase of a property located at Kapital Villa, Guzape, Abuja.
The defendants pleaded not guilty to all charges when they were read in court.
Following their pleas, prosecution counsel Rita Ogar requested a trial date and urged the court to remand the defendants in a correctional facility pending trial.
Counsel to the first and second defendants, Ishaka M. Dikko, informed the court that a bail application had already been filed on behalf of Abubakar and requested that his client be remanded in EFCC custody pending determination of the application.
Similarly, counsel to the third defendant, Y.G. Haruna (SAN), notified the court that a bail application had been filed for his client.
Opposing the applications, the prosecution argued that it possessed overwhelming evidence against the defendants and urged the court to reject the bail requests.
After hearing submissions from both parties, Justice Egwuatu ordered that Abubakar be remanded at the Kuje Correctional Centre pending further proceedings.
The court, however, granted bail to Sandra Chizoba Attoh in the sum of N200 million with two sureties in like sum.
The judge ruled that the sureties must be Abuja residents, property owners and provide valid means of identification. One of the sureties must also be a civil servant not below Grade Level 15 and must submit evidence of appointment and latest promotion.
The matter was adjourned until September 1 and 2, 2026, for the commencement of trial.
EFCC Arraigns Oil Firm MD, Two Others Over Alleged N691.7 Million Fraud
