The Federal High Court in Abuja has ordered the temporary freezing of four bank accounts allegedly linked to former Group Managing Director (GMD) of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, intensifying the widening probe into the country’s controversial refinery rehabilitation funds.
Justice Emeka Nwite issued the order on Tuesday, granting an ex parte application filed by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency had argued that the accounts were connected to suspicious financial activities, including alleged money laundering and abuse of office.
The Accounts Under Watch
The affected accounts, all domiciled in Jaiz Bank, include:
– Account number 0017922724 – Mele Kyari
– Account number 0018575055 – Guwori Community Development Foundation
– Account number 0018575141 – Guwori Community Development Foundation (Flood Relief)
– A fourth account also tied to the Guwori Foundation
According to EFCC filings, preliminary checks revealed that over ₦661.4 million suspected proceeds of unlawful activities—was warehoused in the accounts. Investigators allege that the funds were disguised as charitable donations, including contributions for a book launch and flood relief.
EFCC’s Allegations: Fronts and Family Ties
In an affidavit presented to the court, EFCC investigator Amin Abdullahi claimed that Kyari “personally managed the accounts through family members acting as fronts.” He explained that the petition triggering the probe was filed by a civic group, Guardians of Democracy and Rule of Law, on April 24.
The EFCC has since placed a “no-debit” order on the accounts, effectively freezing transactions pending further investigation. The matter was adjourned to 23 September for the agency to submit an update.
A Familiar Denial
Mr. Kyari, who was relieved of his role in April when President Bola Tinubu dissolved the NNPCL board and management, has consistently denied allegations of financial impropriety.
Back in May, he took to his X handle to dismiss reports of a supposed EFCC arrest over missing $2.9 billion earmarked for refinery rehabilitation. “Clear mischief,” he wrote at the time, insisting that his record of service remained unblemished and that he was “enjoying a well-deserved rest” after three decades at the state oil giant.
“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,” Kyari declared.
The Bigger Picture
While the freezing of Kyari’s accounts is newsworthy, the development is only one strand in a much larger web. The EFCC has widened its net to scrutinize at least 14 current and former NNPCL officials, including two other ex-chief executives, over alleged mismanagement of refinery rehabilitation funds.
The Kaduna, Warri, and Port Harcourt refineries have been Nigeria’s most expensive paradox: billions of dollars have been allocated for their rehabilitation over the past two decades, yet they continue to operate at near-zero refining capacity. This has left the country heavily dependent on imported fuel, despite being Africa’s top crude producer.
According to EFCC spokesperson Dele Oyewale, investigators are “looking at funds released for the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries,” some of which have reportedly been traced to personal accounts of former refinery executives one case allegedly involving over ₦80 billion.
Tinubu’s Tightrope
For President Bola Tinubu, who assumed office on a promise to restore investor confidence in Nigeria’s oil and gas sector, the ongoing revelations are both a political test and an opportunity.
His administration swiftly appointed Bashir Ojulari as the new GCEO of NNPCL and Ahmadu Kida as non-executive chairman, charging them with restoring transparency and operational efficiency.
But the optics remain challenging. Each fresh revelation reinforces public suspicion that NNPCL, the lifeline of Nigeria’s economy, has long been plagued by systemic corruption, weak oversight, and political capture.
Why This Matters
The freezing of Kyari’s accounts while temporary marks one of the most direct legal steps yet against a former NNPCL chief in Nigeria’s long history of oil scandals. Unlike previous probes that fizzled without consequences, this case has advanced into the courtroom, supported by bank records, civic petitions, and allegations that reach beyond one individual to a network of associates and organisations.
As the September hearing approaches, three questions loom large:
- Will the EFCC secure convictions, or will this follow the path of past probes that ended in silence?
- Can Tinubu’s reforms meaningfully untangle decades of entrenched interests at NNPCL?
- What message does this send to investors watching Nigeria’s attempts to clean up its oil sector?
For now, the freeze order is a symbolic victory for accountability advocates. Whether it translates into systemic change remains the real test.