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EFCC Charges Former Port Harcourt, Warri Refinery MDs with Money Laundering

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Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has filed separate money laundering charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC).

The accused are Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery, and Jimoh Olasunkanmi Yisawu, former MD of the Warri Refinery. The charges stem from the alleged diversion and laundering of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries.

According to court documents and investigations by PREMIUM TIMES, the EFCC accused the former officials of abusing their positions by receiving and laundering large sums of money through third parties in connection with controversial turnaround maintenance contracts.

The probe forms part of a broader investigation into alleged fraud involving billions of dollars linked to the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. EFCC sources have indicated that the total amount under scrutiny runs into billions, with earlier recoveries reported at ₦38.66 billion alongside other properties.

The charges include multiple counts of money laundering, with Dikko and Yisawu allegedly involved in diverting public funds meant for critical refinery upgrades. This comes amid ongoing scrutiny of officials from the Nigerian National Petroleum Company Limited (NNPCL) and contractors involved in the projects.

The development is the latest in a series of actions by the EFCC targeting alleged corruption in Nigeria’s oil sector, where massive investments in refinery rehabilitation have yielded limited operational improvements despite significant expenditures.

As of the time of filing, court proceedings for the arraignment of the former MDs were underway. The EFCC has not yet issued an official statement on the matter.

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JUST IN: Vigilante Groups Rescue Kidnapped NECO Students in Borno State

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Local vigilante groups have successfully rescued several students of the National Examinations Council (NECO) who were abducted in Borno State, security sources confirmed on Monday.

The students were reportedly kidnapped while traveling or residing in the area for examination purposes. Details of the exact number rescued and the circumstances of the abduction remain limited, but eyewitness accounts indicate that vigilante fighters acting on intelligence engaged the kidnappers, leading to the release of the captives without major casualties reported among the students.

A community leader in the affected area praised the swift response of the vigilantes, stating that their deep knowledge of the local terrain played a crucial role in tracking the abductors. “These boys and girls were on their way to pursue their education. We thank God and our local defenders for bringing them back safely,” he said.

Borno State has faced persistent security challenges, including banditry and insurgent activities that have occasionally targeted schools and students. The rescue operation highlights the growing reliance on community-based security networks in complementing efforts by the Nigerian military and police in the region.

Authorities are yet to issue an official statement on the incident, but sources say efforts are ongoing to reunite the rescued students with their families and provide necessary medical and psychological support. Investigations into the kidnapping are also underway to apprehend those responsible.

This latest incident comes amid broader concerns over the safety of students in northern Nigeria during examination periods.

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JAMB and Rite Foods Initiate Rewarding Top Performing Candidates

Dr Benjamin said that at the ceremony, each of the seven award recipients will receive ₦5 million in recognition of their exceptional performance in both the Unified Tertiary Matriculation Examination (UTME) and the respective Post-UTME or institutional screening exercises conducted by their admitting Universities.

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The Joint Admissions and Matriculation Board (JAMB) in partnership with Rite Foods Limited will honour seven outstanding candidates who recorded exceptional academic performance during the 2025 admission exercise .

The recognition will take place at the maiden Academic Excellence Recognition Award Ceremony scheduled for Tuesday, June 30, 2026, in Lagos.

JAMB’s spokesperson, Dr. Fabian Benjamin said “the initiative is aimed at promoting academic excellence, rewarding merit and encouraging young Nigerians to strive for high educational achievement.”

Dr Benjamin said that at the ceremony, each of the seven award recipients will receive ₦5 million in recognition of their exceptional performance in both the Unified Tertiary Matriculation Examination (UTME) and the respective Post-UTME or institutional screening exercises conducted by their admitting Universities.

The initiative is expected to motivate students to pursue academic distinction while reinforcing the importance of merit-based recognition in Nigeria’s education sector.

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FG bans motorcycles, tricycles on Lagos-Calabar Coastal Highway

The measures were necessary to preserve the road and ensure its long-term sustainability

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Image: Lagos-Calabar Coastal Highway

The Federal Ministry of Works has announced a ban on commercial motorcycles and tricycles on the Lagos-Calabar Coastal Highway.

The restriction, which takes effect this week, was announced in a statement signed by the Federal Controller of Works in Lagos State, Mr Olufemi Dare.

Dare said that the decision was introduced “to protect the newly constructed superhighway from misuse and deterioration.”

He explained that the measures were necessary to preserve the road and ensure its long-term sustainability.

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