The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned a former Managing Director of the Port Harcourt Refining Company Ltd (PHRC), Ahmed Dikko, over alleged money laundering.
Mr Dikko, who was arraigned before Justice Inyang Ekwo of the Federal High Court, Abuja Division, on a 12-count charge, pleaded not guilty.
Recall that the EFCC, in the charge marked: FHC/ABJ/CR/360/2026, named Mr Dikko and Masterpiece Projects & Investment Ltd as first and second defendants.
In the charge dated and filed on June 22 by the commission’s counsel, Ekele Iheanacho, SAN, the anti-graft agency accused Mr Dikko of using N218 million to buy property in Abuja.
When the case was called, Mr Iheanacho informed the court that the matter was scheduled for the defendants to take their plea and that they were ready to proceed.
Ikechukwu Ajunwa, SAN, did not oppose the application but urged the court to enter a not guilty plea for the second defendant (the company).
In view of the not guilty plea, the prosecution applied for a trial date.
Mr Ajunwa did not oppose the application but informed the court that a bail application had been filed on behalf of Mr Dikko.
He said a copy of the bail application had also been served on the EFCC.
Mr Iheanacho acknowledged receiving the process and told the court that a counter affidavit had equally been filed in opposition to the bail request.
Moving the motion, MrAjunwa said it was dated and filed on July 3 in line with Sections 34(4) and 36 of the 1999 Constitution and Sections 158 and 156 of Administration of Criminal Justice Act (ACJA), 2015.
According to him, the application is seeking for a leave for the defendant to be granted bail.
“The grounds for the application are there my lord,” he said.
The lawyer, who said Mr Dikko would not jump bail or interfere with the trial, said the 1st defendant had been reporting to the EFCC’s office as part of administrative bail terms.
Responding, Mr Iheanacho said the commission, on July 7, filed a counter affidavit opposing Mr Dikko’s request.
“We rely on all the paragraphs in our counter affidavit in urging the court to deny bail to the defendant. We also filed a written submission and adopted same in urging the honourable court to reject the bail application,” he said.
In his ruling, Justice Ekwo held that the court had the discretionary power to either grant or not to grant a bail.
He said since bail is a constitutional rights of the defendant, substantial evidence must be placed before the court why the defendant ought to be denied the request.
The judge consequently admitted Mr Dikko to a N150 million bail with one surety in the like sum who must possess a landed property within the jurisdiction of the court.
He ordered that the surety must be a responsible citizen and must submit the documents of the landed property which should be verified by the court registrar.
Justice Ekwo, who ordered Mr Dikko to submit his passport with the court, directed that the defendant must not travel without the permission of court.
The judge subsequently adjourned the matter until Oct. 12, October13 and 14 for commencement of trial.
The EFCC said the offence is contrary to Sections 2 (1) (a), 19(1)(d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 19 (2) (b) of the same Act.