FORMER Managing Director of the Port Harcourt Refining Company (PHRC), Ahmed Dikko, has pleaded not guilty to a 12-count money laundering charge filed against him by the Economic and Financial Crimes Commission (EFCC).
Dikko was arraigned before Justice Inyang Ekwo of the Federal High Court in Abuja on Wednesday alongside a company, Masterpiece Projects & Investment Ltd, which was listed as the second defendant in the case.
News Point Nigeria reports that the EFCC accused the former PHRC managing director of committing several offences, including allegedly using about N218.4 million to acquire a property in Katampe Extension, Abuja, without passing the funds through a financial institution, an act the commission said contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
At the commencement of proceedings, counsel to the EFCC, Ekele Iheanacho, informed the court that the matter was listed for the defendants to take their pleas.
Dikko pleaded not guilty to all the 12 counts brought against him, while Ikechukwu Ajunwa, counsel representing Masterpiece Projects & Investment Ltd, entered a not guilty plea on behalf of the company.
After the defendants’ pleas were taken, the prosecution requested that the court fix dates for the commencement of trial.
However, counsel to Dikko moved an application seeking bail for the former refinery boss, arguing that his client had complied with the conditions attached to the administrative bail previously granted by the EFCC.
Ajunwa told the court that Dikko would not interfere with the proceedings, would not obstruct the investigation and would not abscond if granted bail.
The bail application was opposed by the prosecution, which urged the court to reject the request, relying on a counter-affidavit and written address already filed before the court.
Delivering his ruling, Justice Ekwo held that bail remained a constitutional right and that adequate reasons must be presented before a court could deny an accused person freedom pending trial.
The judge subsequently admitted Dikko to bail in the sum of N150 million with one surety in the same amount.
Justice Ekwo ruled that the surety must own landed property within the court’s jurisdiction and must submit relevant title documents for verification by the registrar of the court.
The court further ordered that the surety must be a responsible citizen and directed Dikko to deposit his international passport with the court.
The former PHRC managing director was also barred from travelling outside Nigeria without the permission of the court.
Justice Ekwo adjourned the matter until October 12, October 13 and October 14 for the commencement of trial.
The arraignment came about two weeks after the EFCC filed separate charges against Dikko and Jimoh Yisawu, former Managing Director of Warri Refining and Petrochemical Company (WRPC), over alleged diversion of funds released for the rehabilitation of Nigeria’s government-owned refineries.
The anti-graft agency alleged that Dikko received and retained funds from contractors engaged by the Nigerian National Petroleum Company (NNPC) Limited, concealed the source of some of the funds through third parties and carried out transactions allegedly contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The commission also accused him of making a cash payment of about N218.4 million for a property in Abuja and converting $77,080 through a third party.
The charges form part of the EFCC’s wider investigation into alleged diversion of funds approved for the rehabilitation and turnaround maintenance of the Port Harcourt, Warri and Kaduna refineries.
The commission has stated that the investigation has so far resulted in the recovery of more than N9.4 billion, $21.2 million and several landed properties.