The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned the Managing Director of Abu-Haneefa Oil and Gas Ltd, Musa Farouk Abubakar, alongside his company and Sandra Chizoba Attoh before the Federal High Court in Abuja over an alleged N691.7 million fraud and money laundering scheme.
The defendants appeared before Justice Obiora Egwuatu on an amended 15-count charge bordering on conspiracy, fraud, corruption, and money laundering. According to the EFCC, the offences involve the alleged laundering of proceeds of corruption amounting to N691,677,310.00.
One of the charges alleged that Abubakar, on July 21, 2025, transferred N297 million from the account of Abu-Haneefa Oil and Gas Ltd with Zenith Bank to Sandra Attoh’s Access Bank account. The prosecution claimed he ought to have known that the funds were proceeds of unlawful activities linked to corruption, contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.
The anti-graft agency further alleged that Abubakar later procured Attoh to transfer N262.9 million from her account to Mshell Homes Ltd through Taj Bank for the purchase of a property at Kapital Villa, Guzape, Abuja. The EFCC maintained that the funds used for the property transaction were also suspected proceeds of corruption.
The three defendants pleaded not guilty to all charges. Following their pleas, prosecution counsel Rita Ogar requested a trial date and urged the court to remand the defendants in a correctional facility.
Defence lawyers informed the court that separate bail applications had been filed and sought favourable consideration, with Abubakar’s counsel requesting that his client be remanded in EFCC custody pending the hearing of the application.
Ruling on the applications, Justice Egwuatu ordered that Abubakar be remanded in Kuje Correctional Centre pending further proceedings.
The court, however, granted Attoh bail in the sum of N200 million with two sureties in like sum, subject to stringent conditions, including property ownership and residency in Abuja. The matter was subsequently adjourned to September 1 and 2, 2026, for the commencement of trial
