The Economic and Financial Crimes Commission (EFCC) has arraigned Musa Farouk Abubakar, managing director of Abu-Haneefa Oil and Gas Ltd, over alleged corruption and money laundering involving N691.7 million.
Abubakar was arraigned alongside Abu-Haneefa Oil and Gas Ltd and Sandra Chizoba Attoh before Justice Obiora Egwuatu of the Federal High Court in Abuja.
The defendants were docked on an amended 15-count charge bordering on conspiracy, corruption and money laundering.
The EFCC alleged that the defendants were involved in transactions linked to proceeds of unlawful activities amounting to N691,677,310.
In one of the charges, the anti-graft agency alleged that Abubakar transferred N297 million from Abu-Haneefa Oil and Gas Ltd’s account with Zenith Bank to Attoh’s account with Access Bank on July 21, 2025.
The commission alleged that the defendant ought reasonably to have known that the funds formed part of the proceeds of corruption.
The EFCC also alleged that Abubakar procured Attoh to transfer N262.9 million from her account to Mshell Homes Ltd through Taj Bank for the purchase of a property at Kapital Villa, Guzape, Abuja.
According to the commission, the transaction involved proceeds of unlawful activities in violation of the Money Laundering (Prevention and Prohibition) Act, 2022. The defendants pleaded not guilty to the charges.
Rita Ogar, counsel to the EFCC, asked the court to fix a date for trial and remand the defendants in a correctional facility.
Ishaka Dikko, counsel to Abubakar and Abu-Haneefa Oil and Gas Ltd, informed the court that a bail application had already been filed for the first defendant. Dikko urged the court to remand his client in EFCC custody pending the hearing of the application.
YG Haruna, counsel to Attoh, also informed the court that he had filed a bail application for his client. Opposing the applications, the prosecution said it had overwhelming evidence against the defendants and urged the court to reject the requests.
The EFCC said it had filed counter-affidavits and a written address in opposition to the applications.
After hearing both sides, Egwuatu ordered that Abubakar be remanded in Kuje Correctional Centre pending the hearing of issues arising from the bail application. The judge granted Attoh bail in the sum of N200 million with two sureties in like sum.
Justice Egwuatu held that the sureties must be Abuja residents, provide passport photographs and valid means of identification.
The court also directed that the sureties must be property owners and that one of them must be a civil servant not below grade level 15.
The civil servant is required to deposit a letter of appointment and latest promotion letter with the court. The matter was adjourned until September 1 and 2 for trial.