General
Court Freezes Bank Accounts Linked to Ex-NNPC Boss Mele Kyari
By Adedapo Adesanya
A Federal High Court sitting in Abuja has ordered the temporary freezing of four Jaiz Bank accounts linked to the immediate-past chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, over allegations of fraud.
Justice Emeka Nwite made the order on Tuesday after counsel for the Economic and Financial Crimes Commission (EFCC), Mrs Ogechi Ujam, moved an ex parte motion asking the court to freeze the accounts in the interim pending the conclusion of investigations by the commission.
The judge, in his ruling, held that the application was meritorious and accordingly granted same.
“I have listened to the counsel for the applicant and gone through the affidavit evidence with the exhibits and written address attached. I found that this application is meritorious and it is hereby granted as prayed,” the judge held.
Justice Nwite then adjourned till September 23 for a report on the matter.
The anti-graft agency on August 11, 2025, filed the motion ex parte before the court to seek an order freezing the bank accounts because the accounts are owned by Mr Kyari.
The EFCC disclosed that Mr Kyari is “currently being investigated in a case involving the offences of conspiracy, abuse of office and money laundering pending the conclusion of the investigation.”
In the affidavit attached to the ex parte, Mr Amin Abdullahi, an EFCC investigator attached to the Special Investigation Unit, said the commission received and investigated a petition dated April 24 and filed by a group, the Guardian of Democracy and Rule of Law, against Mr Kyari.
He said he was a member of the team assigned to investigate the petition.
“Upon receipt of the petition referred to in Paragraph 4 above, my team carried out several investigation activities which included seeking and obtaining bank records from commercial Banks,” he said.
He said the preliminary investigations found that two of the bank accounts carry the name of Mele Kyari, while the other two have the name of a non-governmental organisation, Guwori Community Development Foundation Flood Relief.
The accounts were listed as: “Jaiz Bank account number: 0017922724 with account name: Mele Kyari; Jaiz Bank account number: 0017922724 with account name: Mele Kyari; Jaiz Bank account number: 0018575055 and Jaiz Bank number: 0018575141 with both account names as Guwori Community Development Foundation Flood Relief.”
The anti-graft agency argued that the bank accounts in respect of which the reliefs are sought are subject matters of investigation by the Commission about misappropriation of funds and criminal breach of trust.
The EFCC also said that the preliminary investigation conducted thus far revealed that the bank accounts are linked to Mr Kyari, who has been using them to receive suspicious inflows from NNPC and various oil companies that have dealings with NNPC.
“That bank records further revealed that these accounts are controlled and managed by Mr Kyari through his family members who are acting as fronts,” he said.
Mr Abdullahi also said the investigation so far carried out revealed “that N661,464,601.50, which are suspected to be proceeds of unlawful activities, were warehoused in four different accounts.
“These funds were traced to Mele Kolo Kyari, who is the former Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC).
“Further investigation revealed that the said transactions in the various accounts were disguised as payments for a purported book launch and activities of a non-governmental organisation (NGO).
“That the Commission has written to Jaiz Bank, where the accounts referred to are domiciled, for the hard copies of the comprehensive account details. While the response of the Bank is being awaited, the Commission has written to post a “no debit” instruction on the accounts, which will only last for 72 hours.
“That I was informed by M.A. Babatunde Esq., learned counsel to the Applicant during official briefing at EFCC Headquarters, and I verily believe him that an order of this honourable court is necessary to freeze the said accounts clearly described in schedule 1 to the motion paper, while investigation is ongoing.
It also said, “That there is a need to preserve the funds in the identified bank accounts pending the conclusion of the investigation and possible prosecution”.
“That it is in the interest of justice to grant this application.”
By Modupe Gbadeyanka
President Bola Tinubu has promised to protect the country and work very hard to ensure every form of terrorism in Nigeria is defeated.
Mr Tinubu gave this assurance during the Federal Executive Council (FEC) meeting in Abuja on Thursday.
He disclosed that Nigeria remains on a steady growth trajectory, with more promise of stability and prosperity as economic reforms continue to yield results and gain national and international acceptance.
Speaking in reaction to the threats by President Donald Trump of United States to raid terrorists’ camps in Nigeria, Mr Tinubu asked, “Do we have problems? Yes. Are we challenged by terrorism? Yes. But we will defeat terrorism. We will overcome the CPC designation.
“Nigeria is one happy family, and we shall spare no effort until we eliminate all criminals from our society. We want our friends to help us as we step up our fight against terrorism, and we will eliminate it.”
The President also disclosed that the federal government was engaging with the world diplomatically, noting, “The most important thing is the fact that despite the political headwinds and the fear of our people, we will continue to engage with partners.”
Commenting on the economy, he said, “The success of the $2.3 billion Eurobond that was oversubscribed by 400 per cent is the most assuring. So, the task ahead is immense; we are engaging the world diplomatically, and we assure all of you that we will defeat terrorism in this country.
“The task ahead is immense, but it is our resolve to move forward with unity and purpose, guided by the Renewed Hope Agenda to build a prosperous, inclusive and resilient Nigeria.”
Mr Tinubu directed the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, to brief the council on the nation’s economic performance, stated that the government will continue to sustain and consolidate the gains.
By Modupe Gbadeyanka
One Captain Nuhu Haruna has been brought before Justice Darius Khobo of the Kaduna State High Court by the Economic and Financial Crimes Commission (EFCC) for an alleged foreign exchange (FX) fraud.
The suspect was accused of duping his victim of about N1.02 billion under a false pretence sometime in December 2023 in Kaduna.
At his arraignment on Wednesday, the EFCC informed Justice Khobo that Mr Haruna, while being the Managing Director of Maphutha Oil and Gas Limited, obtained about N782.3 million from one Mr Sheriff Zailani Shanono, promising to provide him an equivalent in United States Dollars but failed to deliver as promised.
According to the anti-money laundering agency, his action contravenes Section 1(1)(b) of the Advance Fee Fraud and Other Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”
He was also accused of getting another N125.0 million from the same victim.
When the two-count charge bordering on advance fee fraud and obtaining money under false pretence were read to him, Mr Haruna pleaded “not guilty,” following which the prosecution counsel, M.E. Eimonye urged the court for a trial date, while the defence counsel, M.T Mohammed informed the court of the defendant’s bail application, already before the court.
Justice Khobo, after listening to both counsels adjourned the case till November 19, 2025, for the hearing of the bail application and ordered that the defendant be remanded in a Correctional Centre.
The EFCC revealed that Mr Haruna was arrested following a petition from Mr Shanono in which he alleged that he was introduced to the defendant sometime in December 2023, having claimed that he could provide him with a dollar equivalent of a sum of N1.02 billion in two instalments of $600,000 and $400,000.
Following the agreement, he alleged that he then provided the defendant with a foreign bank account into which he would pay the dollar sums and proceeded to transfer the funds into accounts provided by the defendant.
The petitioner further claimed that shortly after his transfer of the sum, the defendant provided him with evidence of payment of the dollar equivalent he claimed to have made into his foreign bank account, only for him to discover that the payment evidence was not real as the money never dropped.
By Modupe Gbadeyanka
The payment solutions platform of Stanbic IBTC Holdings Plc, Zest, scored a brace at the recently-concluded 2025 MSME Finance and CEO Awards.
The MSME Finance and CEO Awards celebrate organizations and leaders driving meaningful progress in financial services, technology, and enterprise support across Africa.
At the event organised by the Africa Global Economic Forum, Zest was honoured as the MSME Fintech Payment Platform of the Year and its chief executive, Mr Stanley Jacob, emerged as the MSME Digital Finance CEO of the Year.
The first was in recognition of its innovation, reliability, and impact in driving seamless payments for businesses of every size across Nigeria and beyond, while the second was for Mr Jacob’s visionary leadership, strategic excellence, and commitment to advancing digital transformation in Africa’s financial ecosystem.
These recognitions reaffirm Zest’s unwavering dedication to excellence, payment innovation, and customer-focused solutions that empower entrepreneurs and MSMEs to thrive in an increasingly digital economy.
“This honour underscores the collective effort of our incredible team and partners who share our mission of redefining payments for MSMEs.
“At Zest, we remain committed to building inclusive, technology-driven solutions that simplify business growth and strengthen the digital economy,” Mr Jacob stated.
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