The Federal High Court in Abuja has directed the freezing of Mars Aviation Limited’s bank account over its alleged connection to a financial fraud case involving the Nigerian National Petroleum Company Limited (NNPCL).
Justice Musa Liman issued the order following an ex-parte motion filed by the Economic and Financial Crimes Commission (EFCC). The motion, argued by EFCC counsel Geraldine Ofulue, sought an interim restriction on transactions pending the completion of ongoing investigations into alleged money laundering and misappropriation.
Ofulue informed the court that the account, domiciled in Fidelity Bank Plc, was under investigation over suspicious inflows from NNPCL. After reviewing the application, Justice Liman ruled that the request was meritorious and granted the freezing order.
The court’s certified true copy, dated September 22, was sighted on Monday. The motion, marked FHC/ABJ/CS/1299/2025, was filed on July 1, 2025.
In the application, the EFCC requested an order empowering its Executive Chairman, Ola Olukoyede, or any authorized official, to direct the bank’s Managing Director to freeze the account—numbered 5250350283 (C03651082) and held in the name of Mars Aviation Limited.
An affidavit deposed by Abdulganiyu Olayide, an EFCC investigator, stated that the agency received intelligence indicating that funds were allegedly paid by NNPCL to Mars Aviation for bogus contracts that contravened procurement laws.
Following the intelligence report, investigators traced substantial inflows from NNPCL to the company’s Fidelity Bank account in multiple installments. Olayide said the freezing order was necessary to preserve the funds and prevent further transactions while the probe continues.
“This interim application is primarily aimed at safeguarding the funds and ensuring the integrity of the ongoing investigation,” the investigator explained.
He further affirmed that the affidavit was made “in good faith and in accordance with the Oaths Act.”
The court’s order effectively empowers the EFCC to maintain control over the account until investigations are completed and potential charges are filed.
