The EFCC arraigned Mahmud A. Abubakar on Wednesday, September 2, 2026, before Justice N.C. Nwabulu of the FCT High Court in Maitama, Abuja.
He faces a two-count charge relating to alleged retention and transfer of funds believed to be proceeds of crime. The total amount involved is N1,098,976,008.
According to count one, between January and December 2024, the defendant allegedly kept N795,360,000 in an Access Bank account with number 0057310017. The prosecution claims he knew the money came from unlawful activity, an offence said to be contrary to Section 17(a) of the EFCC Act 2004.
Count two alleges that within the same period, Abubakar moved N303,616,008 from the same account to one Suleiman Umar. The EFCC also said he was aware the funds were proceeds of crime, in violation of the same section of the Act.
Abubakar pleaded not guilty. Prosecution counsel Y.Y. Tarfa asked for a trial date and remand, while defence counsel A. M. Aliyu applied for bail. The court granted bail with two sureties who must be civil servants on Grade Level 15, with at least one owning landed property in the FCT. The judge ordered that he be held at Kuje Correctional Centre until bail conditions are met, and adjourned the case to September 30, 2026 for trial to begin.
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