A Federal High Court in Abuja has ordered the remand of the Managing Director of Abu-Haneefa Oil and Gas Ltd, Musa Abubakar, over his alleged involvement in a ₦691.7 million fraud and money laundering case instituted by the Economic and Financial Crimes Commission (EFCC).
Abubakar was arraigned alongside his company, Abu-Haneefa Oil and Gas Ltd, and a co-defendant, Sandra Attoh, on a 15-count charge bordering on conspiracy, corruption, and laundering of proceeds of unlawful activities.
According to one of the charges, Abubakar allegedly transferred ₦297 million from the company’s Zenith Bank account to Attoh’s Access Bank account in July 2025 in Abuja, knowing or reasonably suspecting that the funds were proceeds of unlawful activity.
In another count, he was accused of procuring Attoh to transfer ₦262.8 million from her account to Mshell Homes Ltd for the purchase of a property at Kapital Villa, Guzape, Abuja.
The prosecution alleged that the transaction formed part of a scheme to conceal or disguise the origin of illicit funds.
The EFCC maintained that the transactions contravened provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
When the charges were read before the court, the defendants pleaded not guilty. Following their plea, 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 defendant, Ishaka Dikko, informed the court that a bail application had already been filed and appealed for his client to be held in EFCC custody rather than a correctional centre. He also noted that the defence had been served with the prosecution’s counter-affidavit.
Similarly, counsel to the third defendant, Y.G. Haruna, confirmed that a bail application had been filed and that the prosecution had responded with a counter-affidavit.
The prosecution, however, opposed the bail requests, arguing that it possessed overwhelming evidence against the defendants. It urged the court to dismiss the applications, relying on affidavits and documentary exhibits already before the court.
In his ruling, Justice Obiora Egwuatu ordered that the first defendant be remanded at the Kuje Correctional Centre pending the determination of his bail application and the resolution of issues raised in the prosecution’s counter-affidavit.
The court, however, granted bail to the third defendant in the sum of ₦200 million with two sureties in like sum. The sureties must reside in Abuja, own verifiable property, and provide valid means of identification.
Justice Egwuatu further directed that one of the sureties must be a civil servant not below Grade Level 15 and must provide evidence of appointment and promotion.
The matter was adjourned until September 1 and 2, 2026, for the commencement of trial.