The Economic and Financial Crimes Commission, EFCC, on Wednesday arraigned the Managing Director of Abu-Haneefa Oil and Gas Ltd, Musa Farouk Abubakar, alongside his company and one Sandra Chizoba Attoh before the Federal High Court in Abuja over an alleged N691.7 million fraud and money laundering scheme.
The defendants were brought before Justice Obiora Egwuatu of the Federal High Court, Maitama, on an amended 15-count charge bordering on conspiracy, corruption and money laundering involving N691,677,310.
According to the anti-graft agency, the alleged offences were linked to the transfer and concealment of funds suspected to be proceeds of unlawful activities.
One of the charges alleged that 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 Access Bank account belonging to Sandra Chizoba Attoh on July 21, 2025, despite allegedly knowing that the funds were proceeds of corruption.
The EFCC also accused Abubakar of procuring Attoh to transfer N262.87 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 commission alleged that the funds used for the transaction were proceeds of unlawful activities.
Count 10 of the charge reads: “That you Musa Farouk Abubakar, being the Managing Director of Abu Haneefa Oil and Gas Ltd on or about 21st July 2025, in Abuja within the jurisdiction of this honourable court transferred the total sum of N297,000,000 (Two hundred and ninety-seven million Naira) from Abu-Haneefa Oil and Gas Ltd account No.1313378899 with Zenith Bank Plc to account no. 0108910277 of Sandra Chizoba Attoh with Access Bank Nigeria when you reasonably ought to have known that the said money formed part of the proceeds of unlawful act to wit: corruption and thereby committed an offence contrary to Section 18(2)(b) of Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.”
Count 11 reads: “That you Musa Farouk Abubakar, sometime in July 2025, in Abuja within the jurisdiction of this honourable court, procured one Sandra Chizoba Attoh to transfer the sum of N262,866,310.00 (Two hundred and sixty-two million, eight hundred and sixty six thousand, three hundred and ten Naira) from her account no. 0108910277 with Access Bank Nigeria Plc to account no. 0003457246 of Mshell Homes Ltd with Taj Bank Ltd for the purchase of property at Kapital Villa Guzape, Abuja when you reasonably ought to have known that the said money formed part of the proceeds of unlawful act to wit: corruption and thereby committed an offence contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18(3) of the same Act.”
When the charges were read to them, the defendants pleaded not guilty.
Following their plea, EFCC counsel, Rita Ogar, urged the court to fix a date for trial and order the remand of the defendants in a correctional facility pending the commencement of proceedings.
Counsel to the first and second defendants, Ishaka M. Dikko, informed the court that a bail application had been filed on behalf of Abubakar on May 19, 2026. He, however, requested that his client be remanded in EFCC custody pending the determination of the application.
“We were served with the counter-affidavit on June 1, 2026, but we apply that the defendant be remanded in the custody of the prosecution,” Dikko told the court.
Similarly, counsel to the third defendant, Y.G. Haruna (SAN), said he had filed a bail application for his client on June 1 and had received the prosecution’s response a day later.
Opposing the applications, the prosecution maintained that it possessed substantial evidence to support the charges against the defendants.
Ogar informed the court that the EFCC had filed counter-affidavits challenging the bail requests and urged the court to reject them.
According to the prosecution, the counter-affidavit, deposed to by Hayatu Bello, contained 20 paragraphs and was supported by documentary exhibits.
After hearing arguments from both parties, Justice Egwuatu ordered that Abubakar be remanded in the Kuje Correctional Centre pending the filing of a response to the prosecution’s counter-affidavit.
The court, however, granted bail to Attoh in the sum of N200 million with two sureties in like sum.
The judge ruled that the sureties must be residents of Abuja, provide acceptable means of identification and submit passport photographs to the court. He further directed that both sureties must own property, while one must be a civil servant not below Grade Level 15 and provide evidence of appointment and most recent promotion.
Justice Egwuatu subsequently adjourned the matter until September 1 and 2, 2026, for the commencement of trial.
The EFCC alleges that the defendants’ actions contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
