August 20, (THEWILL) — The Federal High Court in Abuja has ordered the temporary freezing of four Jaiz Bank accounts linked to the immediate past Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, over allegations of fraud and money laundering.
Justice Emeka Nwite issued the order on Tuesday while ruling on an ex parte motion filed by the Economic and Financial Crimes Commission (EFCC) and presented by its counsel, Ogechi Ujam.
The affected accounts include those operated in Kyari’s name, as well as two belonging to the Guwori Community Development Fund and Guwori Community Development Foundation Flood Relief.
According to the EFCC, suspicious inflows amounting to N661,464,601.50 were traced to the accounts domiciled in Jaiz Bank and allegedly controlled by Kyari.
The commission argued that the freeze was necessary to preserve the funds pending the conclusion of investigations and possible prosecution.
In court documents, the EFCC said it is probing Kyari for conspiracy, abuse of office, criminal breach of trust, and money laundering, following a petition submitted by a civic group, Guardian of Democracy and Rule of Law, on April 24, 2025.
An EFCC investigator, Amin Abdullahi, stated in a sworn affidavit that findings showed the accounts had been used to warehouse suspicious funds disguised as proceeds from a book launch and NGO activities.
He alleged that the accounts were managed by Kyari and some family members, who acted as fronts, while several oil companies and contractors with dealings at NNPCL made payments into them during his tenure.
The EFCC told the court that it had earlier instructed Jaiz Bank to place a temporary no-debit restriction on the accounts, which under banking rules can only last 72 hours, hence the urgency of the court order.
Granting the request, Justice Nwite ruled: “I find that this application is meritorious, and it is hereby granted as prayed.”
The case was adjourned until September 23 for a progress report, with the accounts to remain frozen until investigations are concluded and the EFCC decides whether to press charges.
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