Ex-Port Harcourt Refinery MD Gets N150m Bail, Ordered to Surrender Passport in N1.32bn Laundering Probe

The former Managing Director of Port Harcourt Refining Company, Ahmed Adamu Dikko, pleaded not guilty to a 12-count money laundering charge involving over N1.32 billion. The Economic and Financial Crimes Commission arraigned him alongside Masterpiece Projects & Investment Limited on alleged diversion of contract funds for refinery rehabilitation. Justice Inyang Ekwo granted bail in the sum of N150 million with one surety of like amount. The surety must reside in the court’s jurisdiction and own landed property worth at least the bail value. The judge also ordered Dikko to surrender his international passport and remain in EFCC custody until bail conditions are met. The case was adjourned for trial on October 12, 13 and 14, 2026. The EFCC alleges that Dikko concealed proceeds through cash property purchases, third-party transactions and unapproved foreign exchange dealings during his tenure from March 2020 to 2024.

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