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 Sandra Chizoba Attoh before the Federal High Court in Abuja over an alleged N691.7 million fraud and money laundering scheme.
The defendants were docked before Justice Obiora Egwuatu on an amended 15-count charge bordering on conspiracy, corruption and money laundering.
According to the EFCC, the alleged offences involved the laundering of proceeds suspected to have been derived from corrupt practices.
One of the charges alleged that Abubakar, on July 21, 2025, transferred N297 million from the account of Abu-Haneefa Oil and Gas Ltd with Zenith Bank to Attoh’s account with Access Bank, knowing or having reason to know that the funds were proceeds of unlawful activity.
The anti-graft agency further alleged that Abubakar subsequently procured Attoh to transfer N262.87 million from her account to Mshell Homes Ltd through Taj Bank for the purchase of a property at Kapital Villa, Guzape, Abuja.
The EFCC maintained that the transactions contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the charges were read to them, the three defendants pleaded not guilty.
Following their plea, prosecuting counsel, Rita Ogar, urged the court to fix a date for trial and remand the defendants in a correctional facility pending the determination of their bail applications.
Counsel to the first and second defendants, Ishaka M. Dikko, informed the court that a bail application had earlier been filed on behalf of Abubakar and requested that his client be remanded in EFCC custody pending the hearing of the application.
Similarly, counsel to the third defendant, Y.G. Haruna (SAN), told the court that he had filed a bail application for Attoh and had received the prosecution’s counter-affidavit.
Opposing the applications, the prosecution argued that it possessed overwhelming evidence against the defendants and urged the court to reject the requests for bail.
Ogar told the court that the prosecution had filed a 20-paragraph counter-affidavit, supported by two exhibits, and relied on the accompanying written address in urging the court to refuse the applications.
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After hearing the parties, Justice Egwuatu ordered that Abubakar be remanded in Kuje Correctional Centre pending his response to the prosecution’s counter-affidavit.
The court, however, granted Attoh bail 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 passport photographs as well as valid means of identification. One of the sureties must also be a civil servant not below Grade Level 15 and must deposit evidence of appointment and last promotion with the court.
Justice Egwuatu subsequently adjourned the case until September 1 and 2, 2026, for trial.
