{
  "id": 19149889,
  "title": "BREAKING: Court reverses interim forfeiture of ex-Warri Refinery MD’s properties, faults EFCC’s evidence",
  "url": "https://urgent.news/2026/11/09/breaking-court-reverses-interim-forfeiture-of-ex-warri-refinery-mds",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-09T12:24:40.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/11/09/court-reverses-interim-forfeiture-of-ex-warri-refinery-mds-properties-faults-efccs-evidence/"
  },
  "original_language": "en",
  "account": "The Federal High Court in Abuja has overturned its interim forfeiture order against properties linked to former Warri Refinery and Petrochemical Co. Managing Director Jimoh Olasunkanmi Yisawu. Justice James Omotosho dismissed the Economic and Financial Crimes Commission's (EFCC) claim that Yisawu's funds and properties were proceeds of unlawful activities, stating that the EFCC failed to present convincing evidence. The court found that Yisawu, who served the Nigerian National Petroleum Corporation (NNPC) for 32 years, did not receive disproportionate compensation, and his lawful earnings were reasonable. The EFCC had sought to forfeit Yisawu's assets due to alleged money laundering involving N1.339 billion in a separate criminal charge, which is ongoing. The court reviewed financial records and evidence from both parties, including Yisawu's 32-year service record and the NNPC's payment history. The judge noted that the properties were acquired through loans and lawful earnings before Yisawu became the Managing Director. The court also observed that Yisawu had declared his assets and that the EFCC could not prove that he received any gratuitous payments. Additionally, the judge stated that the properties were purchased after Yisawu retired from NNPC service. The EFCC alleged that Yisawu violated the agreement by awarding contracts to local contractors, but Yisawu denied these claims, stating that he served the NNPC for 32 years and that neither NNPC, NNPCL, WRPC, nor the contractors had ever filed complaints about his conduct.",
  "summary": "The Federal High Court in Abuja on Monday set aside its interim forfeiture order against properties linked to the former Managing Director of Warri Refining and Petrochemical Company, Jimoh Olasunkanmi Yisawu, faulting the Economic and Financial Crimes Commission’s (EFCC) “watery evidence” alleging proceeds of unlawful activities. Justice James Omotosho dismissed the EFCC’s application for the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}