BREAKING: Court reverses interim forfeiture of ex-Warri Refinery MD’s properties, faults EFCC’s evidence
AI Executive Briefing
Gemini Flash AI~45s readThe Federal High Court in Abuja has overturned an interim forfeiture order against former Warri Refinery MD Jimoh Olasunkanmi Yisawu. Justice James Omotosho ruled that the EFCC failed to substantiate allegations of illicit enrichment, affirming that the respondent's assets were consistent with his long-term career earnings.
Context & Background
- ✦The EFCC had accused Yisawu of money laundering and diversion of public funds related to a $56 million project for the repair of the Warri Refinery.
- ✦The ruling highlights the ongoing legal scrutiny of former NNPC officials regarding asset declaration and the legitimacy of wealth accumulated during public service.
Key Figures & Named Entities
Justice James Omotosho:Presiding judge who dismissed the EFCC's application for final forfeiture.Jimoh Olasunkanmi Yisawu:Former MD of Warri Refinery who successfully challenged the forfeiture of his properties and funds.N1.339 billion:The amount involved in the separate pending criminal money laundering case against Yisawu.
Outlook & Next Steps
The focus now shifts to the pending eight-count criminal charge against Yisawu, which is currently being heard by Justice Inyang Ekwo.
Key Takeaways
AI Summary- The Federal High Court in Abuja vacated an interim forfeiture order against the former Managing Director of Warri Refinery, Jimoh Olasunkanmi Yisawu, citing insufficient evidence from the EFCC.
- Justice James Omotosho ruled that Yisawu’s accumulated wealth over a 32-year career at the NNPC was consistent with his earnings, dismissing claims that his assets were proceeds of unlawful activities.
- The court confirmed that the disputed properties were acquired between 2015 and 2020, predating Yisawu’s appointment as Managing Director of the Warri Refining and Petrochemical Company.
Key Facts:1991-2023: Jimoh Olasunkanmi Yisawu served the NNPC for a total of 32 years, spanning from August 1991 to September 2023.2021-2025: The EFCC alleged that Yisawu paid $900,000 in cash to Bureau De Change operators between 2021 and 2025.2024: The EFCC initiated an investigation into Yisawu following intelligence received in 2024 regarding alleged money laundering and economic sabotage.
Editorial Excerpt
The Federal High Court in Abuja on Monday set aside its interim forfeiture order against properties linked to the former Managing Director of Warri
Frequently Asked Questions About This Story
Why did the court set aside the interim forfeiture order?
The court faulted the EFCC for providing 'watery evidence' and failing to prove that Yisawu’s assets were disproportionate to his legitimate earnings from his 32-year career at the NNPC.
Is the criminal case against Yisawu concluded?
No. While the interim forfeiture order on his properties was set aside, a separate eight-count criminal charge involving N1.339 billion remains pending before Justice Inyang Ekwo.
