The Federal High Court in Abuja has sentenced Muhammed Ovosi to three months in prison for concealing the origin of ₦5 million linked to an unlawful petroleum export scheme.
Justice Emeka Nwite delivered the judgment after Ovosi entered into a plea bargain agreement with the Economic and Financial Crimes Commission (EFCC). In addition to the jail term, the court ordered him to pay a ₦500,000 fine as part of the deal.
EFCC counsel Martha Babatunde urged the court to adopt the agreement, citing Section 270 of the Administration of Criminal Justice Act (ACJA) 2015. Ovosi, the fifth defendant, pleaded guilty to one of the seven counts filed against six defendants in the case.
The EFCC alleged that Ovosi received ₦5 million from one Mr Xu Ningqun to facilitate the export of one million barrels of petroleum products without a licence. Investigators traced ₦1.77 million of the sum directly to Ovosi, which he agreed to refund to the Federal Government as part of his plea bargain.
Meanwhile, Justice Nwite ordered the other defendants, who maintained their not-guilty pleas, to be remanded at the Kuje Correctional Centre pending the hearing of their bail applications. The case was adjourned to September 15 for the bail hearing.
The defendants listed in charge no. FHC/ABJ/CR/365/2025 include Fawei Noel Young, David Macaulay Ugbe, Umar Konto Muhammed Kaigama, Muhammed Ovosi, and Fogmos Professions Ltd. Others mentioned—Sentuo Oil Refinery Ltd and MT Terepaima—were said to be at large.
According to the EFCC, the group conspired in May to deal in petroleum products without lawful authority, an offence contrary to Section 21 of the Money Laundering (Prohibition and Prevention) Act.