The Economic and Financial Crimes Commission (EFCC) has taken the Managing Director of Abu-Haneefa Oil and Gas Limited, Musa Farouk Abubakar, to court over an alleged fraud and money laundering scheme involving more than N691 million.
Abubakar was arraigned alongside his company and a co-defendant, Sandra Chizoba Attoh, before Justice Obiora Egwuatu of the Federal High Court in Abuja.
According to the EFCC, the defendants are facing a 15-count charge linked to alleged financial crimes, including conspiracy, fraudulent transactions, corruption and money laundering.
The anti-corruption agency alleged that Abubakar, while serving as the head of the oil company, moved N297 million from the firm’s account in July 2025, despite allegedly knowing that the funds were connected to unlawful activities.
Investigators further claimed that part of the money later found its way into the account of Sandra Attoh, who allegedly used N262.8 million from the funds to acquire a property located in the Guzape area of Abuja through a real estate company.
During the court session, all the defendants denied the allegations and pleaded not guilty to the charges filed against them.
Following their plea, EFCC counsel Rita Ogar requested that the court fix a date for trial and keep the defendants in custody while the case proceeds.
Lawyers representing the accused persons informed the court that applications seeking bail had already been submitted.
After listening to arguments from both sides, Justice Egwuatu ordered that Musa Farouk Abubakar be remanded at the Kuje Correctional Centre pending a decision on his bail request.
The court, however, granted bail to Sandra Attoh in the sum of N200 million.
As part of the bail conditions, the judge directed that she provide two sureties who must reside in Abuja and possess verifiable landed properties. One of the sureties must also be a civil servant of at least Grade Level 15. The court further required valid identification documents and passport photographs from the sureties.
The case was subsequently adjourned until September 1 and September 2, 2026, when the trial is expected to begin.
The EFCC said it remains committed to pursuing the case as part of ongoing efforts to tackle financial crimes and money laundering in the country.