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EFCC Arraigns Former MD Of Warri Refinery For Alleged N1.339bn Fraud
EFCC Arraigns Former MD Of Warri Refinery For Alleged N1.339bn Fraud
The Economic and Financial Crimes Commission, EFCC has arraigned the former Managing Director of Warri Refining and Petrochemical Company Ltd, Jimoh Olasunkanmi Yisawu before Justice Inyang Ekwo of the Federal High Court sitting in Abuja for alleged money laundering to the tune of N1.339 (One Billion, Three Hundred and Thirty-Nine Thousand Naira).
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He was arraigned on Monday, July 20, 2026 on an eight-count charge of alleged money laundering.
Count one of the charges reads: “That you Jimoh Olasunkanmi Yisawu, the former Managing Director of Warri Refining and Petrochemical Company Ltd between October, 2023 and May, 2025 in Abuja within the jurisdiction of this Honourable Court indirectly converted the aggregate sum of $789, 950 (Seven Hundred and Eighty Nine Thousand, Nine Hundred and Fifty United States Dollars) through Samaila Bala which amount did not form part of your known lawful earning as a former public officer with the Nigerian National Petroleum Company Ltd (formerly Nigerian National Petroleum Corporation) when you knew that the said sum of $789,950 constituted proceeds of unlawful activity and you thereby committed an offence contrary to Section 18 (8) (b) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Count three reads: “That you Jimoh Olasunkanmi Yisawu, the former Managing Director of Warri Refining and Petrochemical Company Ltd between February, 2024 and March, 2025 in Lagos within the jurisdiction of this Honourable Court indirectly converted through Rasheed Olaitan Yusuf of Rasheedat Anike Global Ventures the aggregate sum of $122,600 (One Hundred and Twenty Two Thousand, Six Hundred United States Dollars) which did not form part of your known lawful earning as a former public officer with the Nigerian National Petroleum Company Ltd (formerly Nigerian National Petroleum Corporation) when you knew that the said sum of $122,600 constituted proceed of unlawful activity and you thereby committed an offence contrary to Section 18(2) (b) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
Count six reads: “That you Jimoh Olasunkanmi Yisawu the former Managing Director of Warri Refining and Petrochemical Company Ltd on or about the 21st of February, 2024 in Lagos within the jurisdiction of this Honourable Court, indirectly transferred the sum of N65, 860, 000 (Sixty Five Million, Eight Hundred and Sixty Thousand Naira) to Cordros Securities Limited for the purchase of treasury bills for yourself when you reasonably ought to have known that the said sum constituted proceeds of unlawful activity and you thereby committed an offence contrary to Section 18(2) (b) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”
The defendant pleaded not guilty to all the charges when they were read to him, prompting his counsel, Wale Balogun, SAN to pray the court to grant his client bail, promising that he will always be available in court for trial.
Subsequently, EFCC’s lead counsel, Ekele Iheanacho, SAN told the court he had filed a 17- paragraph affidavit asking the court to deny the defendant bail citing the seriousness of the alleged offence.
Upon hearing the submissions of both parties, Justice Ekwo granted the defendant bail in the sum of N500,000.000 (Five Hundred Million Naira) and a surety in like sum. He said the surety must be a responsible citizen and owner of landed property within the jurisdiction of the court. He directed the court registrar to verify the property and ensure the deposit of the original papers of the property with the court.
EFCC
Justice Ekwo also ruled that the defendant should deposit his international passport with the court and ensure that he does not travel out of the jurisdiction of the court without the prior permission of the court. He held that the ddefendant should remain in the custody of the EFCC, pending the time he meets the bail conditions.
The case was adjourned to 26, 27 and 28 of October 2026.
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Peter Obi Would Flee to Cameroon if He Faces Challenges as President, Says Wike
Mr Wike spoke on Tuesday at Abaji Area Council during a Rainbow Coalition and Stakeholders’ meeting in Abuja.
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The minister said Mr Obi would abandon the country’s problems rather than confront them, unlike President Bola Tinubu, whom he hailed for taking tough decisions to address Nigeria’s challenges.
According to him, Nigeria needs a president who could confront difficult situations rather than abandon the country when challenges arise.
Mr Wike maintained that ruling a country goes beyond public relations or political rhetoric; it requires competence and a willingness to be accountable in the face of challenges.
Meanwhile, he urged residents of Abaji Area Council to demonstrate their support for President Bola Tinubu’s re-election by voting for him in the 2027 election.
He said he would not rely on Abaji political leaders’ promises to ensure Mr Tinubu’s victory but would assess their support by their ability to deliver their respective polling units and wards.
The minister added, “Nobody is competing with Rivers. I don’t know what you all think. The only people who are going to compete with Rivers are the FCT. Whatever I will do there, I will do it here. So make sure you beat Rivers.”
Mr Wike also cautioned them against repeating their mistake in the 2023 elections by voting for candidates who failed to maintain contact with their constituents after securing electoral victory.
The minister said residents should assess political officeholders based on their accessibility, performance and contributions to development rather than political promises.
“You went and elected somebody you don’t know. Is it not correct? Have you seen the person again? Has he come to address you? Has he asked you what your problems are? Has he moved anything that will affect the interest of the FCT?” he asked.
Wike, Peter Obi
Mr Wike also reiterated his commitment to addressing Abaji’s electricity challenges before the 2027 elections, directing the area council chairman to intensify efforts towards restoring power supply.
He described the Abaji engagement as the final meeting in his tour of the six FCT area councils ahead of the elections, saying he would return to assess residents’ satisfaction with the administration’s performance.
Mr Wike further disclosed that he would meet with youths in the FCT on Wednesday to discuss political mobilisation and other issues affecting their participation in the forthcoming elections.
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Eastern Marine Customs Sets to Maximise Border Security Through Joint Naval Operations
The Nigeria Customs Service (NCS) Eastern Marine Command has proposed joint operations with the Nigerian Navy to strengthen maritime security along the eastern sea border.
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According to a press release signed by the Command’s Public Relations Officer, Deputy Superintendent of Customs Joshua Iliya, the Acting Comptroller in charge of the Command, Deputy Comptroller of Customs Ntongha Edet, remarked during a high-level visit to the Navy Forward Operating Base (FOB) in Ibaka, Akwa Ibom State, on Thursday, 5 November 2026.
He commended the existing cooperation between both agencies. He called for joint patrol operations involving officers and men of the Eastern Marine Command and naval personnel to enhance maritime domain awareness.
“I am here to formally request the inclusion of Customs marine officers in joint patrol sorties with the Nigerian Navy to maximise operational reach within our area of responsibility,” he said.
Eastern Marine Customs, Naval
In response, the officer in charge of Forward Operating Base (FOB) Ibaka, Navy Captain Adebowale Omotosho, pledged full support and emphasised that providing operational assistance to the Customs Service is vital.
“As the Navy secures the marine territory, Nigeria Customs protects our economic interests to ensure critical national development. I am assuring you that FOB Ibaka under my leadership will maintain an open-door policy and share operational success with Customs,” he said.
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NNPC Extends Financial Literacy Training to Corps Members in 36 States
NNPC Corporate Social Responsibility arm, NNPC Foundation Ltd/Gte., in partnership with the National Youth Service Corps (NYSC), on Sunday, 8th November 2026, hosted the NYSC Financial Literacy Training Programme for Batch C, Stream 2 Corps Members in Abuja, with simultaneous sessions held across NYSC Orientation Camps in the 36 states of the Federation.
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The training provided Corps Members with practical guidance on making informed financial decisions, managing their finances and considering entrepreneurship as a path to self-reliance at the end of their service year.
Beneficiaries Exceed 1.4 Million as NNPC Extends Financial Literacy Training to Corps Members in 36 States
NNPC
Since its introduction in 2023, the programme has reached more than 1.4 million Corps Members, reflecting NNPC Limited’s commitment to widening financial inclusion among young Nigerians and preparing them to build stable livelihoods and contribute to national economic growth.
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