The Federal High Court in Abuja has ordered the
temporary freezing of four Jaiz Bank accounts linked to Mele Kyari, the
immediate-past Group Managing Director (GMD) of the Nigerian National Petroleum
Company Limited (NNPCL), following an application by the Economic and Financial
Crimes Commission (EFCC).
Justice Emeka Nwite granted the interim order after
EFCC’s counsel, Ogechi Ujam, argued an ex-parte motion seeking to
preserve funds under investigation. The anti-graft agency alleged that the
accounts were being used to warehouse proceeds of unlawful activities,
including conspiracy, abuse of office, and money laundering.
“I have listened to counsel to the applicant and gone
through the affidavit evidence with the exhibits and written address attached.
I find that this application is meritorious, and it is hereby granted as
prayed,” Justice Nwite ruled. The matter was adjourned to September 23, 2025
for a progress report.
Accounts Under Probe
The affected accounts include two operated in Kyari’s
name and two linked to the Guwori Community Development Foundation.
According to the EFCC, preliminary findings showed that a total of ?661.4
million suspected to be illicit funds was traced to the accounts.
Court filings alleged that the funds were disguised as
inflows for a book launch and NGO activities, but investigators said the monies
originated from NNPC transactions and oil companies with business ties to the
state oil firm.
EFCC Investigation
In an affidavit, EFCC investigator Amin Abdullahi
revealed that the probe was triggered by a petition filed on April 24, 2025, by
civil society group Guardian of Democracy and Rule of Law. The petition
accused Kyari of using proxies, including family members, to manage multiple
Jaiz Bank accounts for suspicious transactions.
Abdullahi stated that investigators had obtained bank
records and corporate details from the Corporate Affairs Commission (CAC) and
had invited several persons of interest for questioning. He added that the
accounts were initially restricted by a “no-debit order” pending the court’s
ruling.
Wider Corruption Probe
The case against Kyari is part of a broader EFCC
investigation into alleged mismanagement of refinery rehabilitation funds at
the NNPCL. The commission has also requested emolument records of senior
officials and reportedly traced more than ?80 billion to the personal
accounts of a former refinery managing director.
Kyari, 60, who stepped down as GMD earlier this year,
has denied any wrongdoing. In a May statement on his official X handle, he
described media reports of financial impropriety as “clear mischief” aimed at
tarnishing his reputation. He insisted he was on a “well-deserved rest” after
over three decades of service at the oil company.
“I must emphasise that I served with the fear of God,
knowing fully well that if I do not account before man, I will account before
Allah,” he wrote.
Next Steps
With the accounts frozen, the EFCC will continue its
investigation ahead of possible prosecution. Meanwhile, President Bola Tinubu
has appointed Bashir Ojulari as the new NNPCL Group CEO and Ahmadu
Kida as non-executive chairman, with a mandate to restore investor
confidence and strengthen operational transparency at the national oil company.
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