Amanze ChinonyeA Federal High Court in Abuja has frozen four bank accounts linked to Mele Kyari, the former Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), as the Economic and Financial Crimes Commission (EFCC) intensifies investigations into alleged mismanagement of nearly $3 billion meant for refinery rehabilitation.
Justice Emeka Nwite issued the order on August 19 after the EFCC told the court that ₦661.4 million traced to the accounts one belonging to Kyari and three linked to Guwori Community Development Foundation for was suspected to be proceeds of unlawful activity. The case has been adjourned to September 23 for a progress update.
Join our WhatsApp ChannelAccording to court filings, the accounts in question 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). EFCC investigator Amin Abdullahi 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. He added that the accounts were managed by Kyari “through family members acting as fronts,” with a no-debit order already placed pending the court’s intervention.
The EFCC said its action followed a petition by civil society group Guardians of Democracy and Rule of Law on April 24. The commission further alleged that the transactions under review were linked to conspiracy, abuse of office, and money laundering.
READ ALSO:
Kyari, who led NNPCL until April when President Bola Tinubu dissolved the company’s board and management, has denied wrongdoing. In a May statement on his X handle, he dismissed reports of arrest as “clear mischief,” insisting he was on a “well-deserved rest” after more than three decades of service. “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.
Kyari’s case is part of a wider EFCC investigation into refinery rehabilitation funds, which has drawn at least 14 current and former NNPCL officials into scrutiny, including two other ex-chief executives.
The anti-graft agency has requested salary and allowance records of the officials, while reports suggest that more than ₦80 billion was traced to the personal accounts of a former refinery managing director. EFCC spokesperson Dele Oyewale confirmed the probe, noting it involves funds released for the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.
About $1.56 billion was allocated to the Port Harcourt Refinery in April 2021 for a full engineering, procurement, and construction contract awarded to Italian firm Tecnimont. In June 2022, Daewoo Engineering and Construction was engaged for a $492.3 million “quick-fix” contract at Warri Refinery, followed by a $740.6 million deal for Kaduna Refinery signed in February 2023.
Despite these multi-billion-dollar allocations, the refineries remain largely idle. Warri Refinery, which briefly restarted in December 2024, was shut down the following month due to safety issues. Port Harcourt has also been shut, while Kaduna is yet to resume operations.
The continued dormancy of these facilities underscores Nigeria’s dependence on imported petroleum products, worsening pressure on foreign reserves and fueling inflation in local markets.
The outcome of the probe carries significant implications. Nigeria, Africa’s largest oil producer, continues to rely heavily on imported petroleum products, straining foreign reserves and driving up domestic costs.
With billions already spent on refineries that remain largely idle, the investigation is not only about alleged financial impropriety but also about accountability for critical infrastructure that directly affects the nation’s energy security and economic stability.
As the EFCC prepares its September report to the court, the case against Kyari and other NNPCL officials has become more than a corruption Probe it is a defining test of Nigeria’s ability to confront entrenched graft in its oil sector. For citizens burdened by fuel scarcity and rising prices, the outcome will signal whether government accountability can finally match the scale of the country’s economic challenges.
Amanze Chinonye is a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria. With a unique voice that blends tradition with modernity, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday Nigerian life, from the bustling markets of Lagos to the quiet villages of the countryside. With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
