The Economic and Financial Crimes Commission, EFCC Maiduguri Zonal Directorate on June 3 and 4, 2026, arraigned Abubakar Muhammad before two Maiduguri courts over an alleged N650 million fraud involving Nestlé goods.
Muhammad appeared before Justice Shehu Umaru Adamu at the Federal High Court on three counts, and before Justice Amina Mustapha Ibrahim at the Borno State High Court on two counts, bordering on money laundering, criminal misappropriation and breach of trust. The EFCC alleges he converted N650 million received for Nestlé product sales, funneling it through UBA, Taj Bank and Moniepoint accounts under the guise of a mining investment.
The charge sheet states that between January 2021 and February 2026, Muhammad “directly converted” the funds “which he ought to have known formed part of proceeds of an unlawful activity,” contrary to the Money Laundering Act. He pleaded not guilty to all counts. Prosecution counsel Mukhtar Ali Ahmed asked for a trial date and remand, while defense counsel B.G. Zanna moved for bail.
Justice Ibrahim granted bail in the sum of N300 million with two sureties, one of whom must own landed property worth N400 million. Justice Adamu adjourned to June 11 and Justice Ibrahim to June 15 for commencement of hearing. Muhammad was arrested after a petitioner alleged he manipulated sales records of N650m worth of Nestlé goods and diverted the proceeds.
—
*
