The Managing Director of Abu-Haneefa Oil and Gas Limited, Musa Farouk Abubakar, has been arraigned by the Economic and Financial Crimes Commission (EFCC) before the Federal High Court in Abuja over an alleged fraud and money laundering case involving the sum of ₦691.7 million.
Abubakar was arraigned alongside his company, Abu-Haneefa Oil and Gas Limited, and Sandra Chizoba Attoh before Justice Obiora Egwuatu on Wednesday, it was reported.
The defendants are now facing an amended 15-count charge relating to conspiracy, fraud, corruption and money laundering.
The anti-graft agency alleged that Abubakar transferred ₦297 million from the account of Abu-Haneefa Oil and Gas Limited with Zenith Bank to an Access Bank account of Attoh in July 2025. The EFCC alleged that the funds were suspected proceeds of corruption.
The commission also alleged that later in the same month, Abubakar arranged for Attoh to move ₦262.9 million from her Access Bank account to an account of Mshell Homes Limited with Taj Bank.
The money, investigators said, was used to acquire a property located at Kapital Villa in Guzape, Abuja and the funds, they maintained, were linked to illicit activities.
All three defendants denied the allegations and pleaded not guilty when the charges were read in court.
Following the plea, EFCC lawyer Rita Ogar asked for a trial date and requested the court to remand the defendants in a correctional facility pending the hearing of the case.
Counsel to Abubakar and his company, Ishaka M. Dikko, told the court that a bail application had already been filed on May 19, 2026, on behalf of the first defendant.
He also told the court that the defence had received the prosecution’s response to the application and asked that his client be kept in EFCC custody while the matter was being considered.
Y. G. Haruna (SAN), Attoh’s lawyer, also told the court that he had filed a bail application on behalf of his client on June 1 and got a response from the prosecution the next day.
The EFCC, in opposing the bail applications, argued that it has strong evidence against the defendants.
The prosecution said it had filed counter-affidavits supported by documentary exhibits and urged the court to dismiss the applications.
Justice Egwuatu ordered that Abubakar should be remanded at the Kuje Correctional Centre, after hearing submissions from both sides, pending further proceedings and until his legal team responds to the prosecution’s counter-affidavit.
However, the judge granted bail to Attoh in the sum of ₦200 million with two sureties of the same amount.
He said the sureties must reside in Abuja, provide their passport photographs and valid means of identification.
They must also own property. One of them must be a civil servant of at least Grade Level 15 and must submit proof of appointment and latest promotion documents to the court.
The case was put off for trial to 1 and 2 September 2026.
