The Federal High Court in Abuja has ordered the temporary freezing of four Jaiz Bank accounts linked to former Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, over allegations of fraud and money laundering.
The judge, Emeka Nwite, granted the order on Tuesday after a lawyer to the Economic and Financial Crimes Commission (EFCC), Ogechi Ujam, moved an ex parte application.
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The EFCC told the court that the accounts were under investigation for suspicious transactions.
“I have listened to counsel for the applicant and reviewed the affidavit evidence and exhibits. I find merit in the application and it is hereby granted as prayed,” Mr Nwite ruled.
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The judge adjourned the matter to 23 September for a report on the investigation.
The anti-graft agency, in the ex parte motion marked FHC/ABJ/CS/1641/2025 filed on 11 August, said the accounts were allegedly controlled by Mr Kyari and linked to offences of conspiracy, abuse of office and money laundering.
The affected accounts include Jaiz Bank account number 0017922724 – Mele Kyari; Jaiz Bank account number 0018575055 – Guwori Community Development Foundation and Jaiz Bank account number 0018575141 – Guwori Community Development Foundation (Flood Relief).
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According to the EFCC, preliminary findings showed that N661.4 million, suspected to be proceeds of unlawful activities, was warehoused in the four accounts.
In a supporting affidavit, EFCC investigator Amin Abdullahi said the commission acted on a petition filed by Guardians of Democracy and Rule of Law on 24 April.
He told the court that suspicious inflows from NNPCL and oil companies were disguised as donations for a book launch and funding for a non-governmental organisation.
Mr Abdullahi added that the accounts were managed by Mr Kyari “through family members acting as fronts,” and that a no-debit instruction had already been placed pending the court’s intervention.
Background
Mr Kyari, who led NNPCL until April when President Bola Tinubu dissolved the board and management, has previously denied reports that he was arrested by the EFCC over alleged misappropriation of $2.9 billion meant for refinery rehabilitation.
In a May statement on his X handle, the 60-year-old described such reports as “clear mischief” aimed at damaging his reputation, insisting he was on a “well-deserved rest” after more than three decades of service at the state oil firm.
He maintained his readiness to account for his stewardship:
“I must emphasise that I served with the fear of God, knowing fully well that if I do not account before man, I will account before Allah,” he wrote.
Wider probe
Mr Kyari’s case forms part of a wider EFCC investigation into the management of refinery rehabilitation funds. The probe covers at least 14 current and former NNPCL officials, including two other ex-CEOs.
READ ALSO: Jaiz Bank meets CBN capital requirement, unveils new corporate identity – Official
The commission has requested emolument records of the officials, while over N80 billion has reportedly been traced to the personal accounts of a former refinery managing director.
EFCC spokesperson Dele Oyewale confirmed the ongoing investigation, saying it involves “funds released for the rehabilitation of the Kaduna, Warri and Port Harcourt refineries.”
President Tinubu has since appointed Bashir Ojulari as NNPCL Group CEO and Ahmadu Kida as non-executive chairman, tasking them with restoring investor confidence and driving operational efficiency.
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