A federal court in Abuja, Nigeria, has remanded a prominent oil and gas executive in custody pending trial on 15 criminal counts alleging he conspired to defraud and launder more than N691 million — money prosecutors say formed part of the proceeds of corruption.
Musa Farouk Abubakar, Managing Director of Abu-Haneefa Oil and Gas Ltd, appeared before Justice Obiora Egwuatu of the Federal High Court in Maitama on Wednesday alongside his company and a third defendant, Sandra Chizoba Attoh, after the Economic and Financial Crimes Commission (EFCC) filed an amended 15-count charge against them. All three entered pleas of not guilty.
Prosecutors allege that on or about 21 July 2025, Abubakar transferred N297 million from the Abu-Haneefa Oil and Gas account at Zenith Bank into Attoh’s personal account at Access Bank — money they say he “reasonably ought to have known” constituted proceeds of corruption. Days later, according to the charge sheet, he procured Attoh to move a further N262.8 million from that same account to a firm called Mshell Homes Ltd at Taj Bank, ostensibly for the purchase of property at Kapital Villa Guzape, Abuja.
Together, the two transactions cited in counts 10 and 11 alone account for nearly N560 million of the N691,677,310 total alleged in the charge.
“We have overwhelming evidence in this case.”
EFCC prosecution counsel Rita Ogar, addressing the Federal High Court, Abuja, 3 June 2026
Prosecution counsel Rita Ogar opposed bail for both accused persons, telling the court her team had filed counter-affidavits supported by two exhibits and a written address through deponent Hayatu Bello. Ogar described the state’s evidence as “overwhelming” and urged the bench to deny bail.
Justice Egwuatu split his ruling. He ordered that Abubakar be remanded at the Kuje Correctional Centre until his defence counsel, Ishaka M. Dikko, filed a response to the prosecution’s counter-affidavit — a bail application Dikko had originally lodged on 19 May 2026. The judge admitted Attoh, represented by senior advocate YG Haruna SAN, to bail in the sum of N200 million with two sureties in like sum.
The conditions imposed on Attoh’s bail sureties are exacting: both must be resident in Abuja, present passport photographs and acceptable identification, and own property in the Federal Capital Territory. One surety must be a civil servant of at least Grade Level 15 and must deposit a letter of appointment and the most recent promotion letter with the court.
The matter was adjourned to 1 and 2 September 2026 for trial. Abu-Haneefa Oil and Gas Ltd, named as the second defendant, is also a party to the proceedings.
The case adds to a growing docket of high-value prosecutions by the EFCC under Nigeria’s reinvigorated anti-corruption drive, with prosecutors increasingly pursuing asset tracing and money laundering charges to recover funds alleged to have been diverted from public coffers and concealed through private transactions in the real estate sector.
