The Economic and Financial Crimes Commission (EFCC) has filed separate criminal charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC), Ahmed Adamu Dikko and Jimoh Olasunkanmi Yisawu

Both former MDs are facing alleged money laundering and financial crimes linked to refinery rehabilitation projects.

The charges, filed before the High Court of the Federal Capital Territory, Abuja, accused the former refinery chiefs of offences involving $989,630 and ₦1.42 billion, respectively contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

According to the charge against Dikko, the former PHRC managing director allegedly received and retained $989,630, which the EFCC said formed part of the proceeds of unlawful activities.

The anti-graft agency also accused him of allegedly receiving funds through accounts linked to contractors handling the rehabilitation of the Port Harcourt Refinery and carrying out financial transactions inconsistent with his lawful income.

In a separate charge, the EFCC alleged that Yisawu, the immediate past managing director of WRPC, unlawfully handled about ₦1.42 billion through multiple transactions.

He was also accused of allegedly converting large sums in foreign currency through third parties, making cash payments above the statutory threshold and investing part of the funds in treasury bills in breach of anti-money laundering laws.

The cases are among a series of investigations by the EFCC into the utilisation of funds approved for the rehabilitation of Nigeria's state-owned refineries, including the Port Harcourt, Warri and Kaduna facilities.

The matters are expected to come up before the FCT High Court for the defendants to take their plea.