EFCC BRINGS ABUJA MAN TO COURT OVER ALLEGED ₦1.09BN PROCEEDS OF CRIME

The Economic and Financial Crimes Commission has arraigned Mahmud A. Abubakar before the Federal Capital Territory High Court sitting in Maitama, Abuja, over allegations involving the retention and transfer of funds worth more than ₦1.09 billion.

Abubakar was brought before Justice N.C. Nwabulu on Wednesday on a two-count charge filed by the anti-graft agency. The EFCC alleged that the defendant dealt with a combined sum of ₦1,098,976,008 which it said represented proceeds derived from criminal conduct.

According to the commission, the first count relates to ₦795.36 million allegedly retained by Abubakar in an Access Bank account between January and December 2024. Prosecutors alleged that he knew, or ought to have known, that the money was connected to criminal activity.

The second count concerns another ₦303,616,008 which the EFCC alleged Abubakar transferred from the same bank account to an individual identified as Suleiman Umar during the same period. The commission maintained that the defendant knew the money being transferred was proceeds of criminal conduct.

The charges were brought under Section 17(a) of the Economic and Financial Crimes Commission (Establishment) Act, 2004, with the alleged offences punishable under Section 17(b) of the same legislation.

When the charges were read to him in court, Abubakar pleaded not guilty to both counts. His plea means the prosecution is required to establish its allegations against him through evidence as the case proceeds.

Following the defendant’s plea, EFCC counsel, Y.Y. Tarfa, asked the court to fix a date for trial and sought an order for Abubakar to be remanded in a correctional facility pending further proceedings.

Defence counsel, A.M. Aliyu, however, applied for bail on behalf of his client. The prosecution did not oppose the bail application, after which Justice Nwabulu granted the defendant bail subject to specific conditions.

The court ordered Abubakar to provide two sureties, both of whom must be serving Level 15 civil servants. One of the sureties must additionally own landed property within the Federal Capital Territory.

Pending the fulfilment of the bail conditions, the judge ordered that Abubakar be held at the Kuje Correctional Centre in Abuja. The case was subsequently adjourned until September 30, 2026, when proceedings are expected to commence.

The EFCC’s case centres on its allegation that the funds were proceeds of criminal activity and that Abubakar knowingly retained and transferred part of the money. The commission will therefore be expected to present evidence linking the funds to the alleged underlying criminal conduct and establishing the defendant’s knowledge or involvement.

The arraignment forms part of the EFCC’s wider efforts to investigate and prosecute cases involving suspected financial crimes and the handling of proceeds allegedly generated through unlawful activities.

For now, Abubakar remains presumed innocent unless and until a court of competent jurisdiction determines otherwise. The September 30 hearing is expected to provide the next major development in the case as the prosecution begins presenting its evidence.