Court Freezes ₦661m in Kyari’s Accounts Over Fraud Investigation

…Ex-NNPCL Boss Linked to Alleged Fraud, Money Laundering, Says EFCC

By John Paul

The Federal High Court in Abuja has ordered the temporary freezing of four bank accounts linked to Mele Kyari, the immediate-past Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), after investigators traced over ₦661 million suspected to be proceeds of unlawful activities to them.

Justice Emeka Nwite granted the order on Tuesday after listening to an ex-parte motion by the Economic and Financial Crimes Commission (EFCC), which is probing Kyari for conspiracy, abuse of office, and money laundering. Counsel to the EFCC, Ogechi Ujam, told the court that investigations were still ongoing and that freezing the funds was necessary to preserve evidence.

In his ruling, Justice Nwite held that the application had merit and accordingly ordered the freezing of the accounts pending further hearing. The matter was adjourned until September 23 for report.

The EFCC, in its application marked FHC/ABJ/CS/1641, listed the affected accounts as two personal accounts in Kyari’s name, and two belonging to the Guwori Community Development Foundation and its Flood Relief fund, all domiciled in Jaiz Bank.

According to an affidavit filed by EFCC investigator Amin Abdullahi, preliminary findings revealed that ₦661,464,601.50 had been warehoused in the four accounts. He said the inflows, disguised as payments for a purported book launch and NGO activities, were traced to Kyari, who allegedly used his family members as fronts to operate the accounts.

The EFCC investigator explained that the Commission received a petition from the Guardian of Democracy and Rule of Law on April 24, which prompted the probe. He added that the team obtained bank records, corporate filings from the Corporate Affairs Commission (CAC), and statements from individuals and companies linked to the transactions.

The affidavit further alleged that some of the suspicious inflows originated from NNPCL and oil companies with business dealings with the corporation during Kyari’s tenure. “The suspect opened various accounts in Jaiz Bank which have been used to receive suspicious inflows from NNPCL and oil firms. Bank records revealed that these accounts were controlled by Kyari through his family members acting as fronts,” Abdullahi stated.

The Commission argued that an interim freezing order was necessary to prevent the dissipation of funds while investigations continue, warning that without the order, efforts to prosecute the case could be undermined.

The court’s decision comes amid growing scrutiny of Kyari’s stewardship of the national oil company, with the EFCC insisting that the funds in question were linked to fraud and money laundering activities.