By: Mohammed Ali
In a major development that has sent shockwaves through Nigeria’s oil and political sectors, the Federal High Court in Abuja has ordered the temporary freezing of four bank accounts linked to Mele Kyari, the former Group Managing Director of the Nigerian National Petroleum Company Limited (NNPCL), over allegations of fraud, conspiracy, and money laundering.
The accounts, all domiciled with Jaiz Bank, reportedly contain over ₦661 million suspected to be proceeds of unlawful activities. The Economic and Financial Crimes Commission (EFCC), acting on a petition filed by the Guardians of Democracy and Rule of Law, presented evidence suggesting that the accounts were used to disguise suspicious inflows from NNPCL and oil companies under the guise of donations and NGO funding.
Justice Emeka Nwite, who presided over the matter, granted the EFCC’s ex parte motion, placing a 30-day freeze on the accounts pending further investigation. The case has been adjourned to September 23 for a progress report.
In a related twist, sources close to the investigation have revealed that Bala Wunti, a senior NNPCL official and current Executive Director of the Petroleum Investment Management Services (NAPIMS), is also on the radar of investigators. While no formal charges have been filed, insiders suggest that Wunti’s financial dealings and role in contract facilitation are being reviewed as part of the broader probe into the alleged mismanagement of refinery rehabilitation funds. Bala Wunti was recently seen paid a visit to The Current APC Chairman Prof Nentawe.
The development comes at a politically sensitive time, as Bala Wunti is being projected by some stakeholders in Bauchi State as a potential Governorship candidate for 2027. His rising political profile and perceived technocratic credentials have made him a favorite among certain PDP factions and youth groups in the state.
Political analysts warn that the unfolding investigation could have significant implications for Bauchi’s 2027 electoral landscape, especially if Wunti’s name becomes formally linked to the EFCC probe.
The news has sparked intense debate across social media and political circles, with citizens demanding transparency and accountability from public officials. Some have called for a thorough audit of NNPCL’s financial records, while others caution against politicizing the investigation.
As the EFCC continues its probe into the alleged misappropriation of funds meant for refinery rehabilitation, observers say the case could become a litmus test for President Bola Tinubu’s anti-corruption stance and the integrity of Nigeria’s oil sector.
