The Economic and Financial Crimes Commission (EFCC) records another huge success as it concludes the prosecution of Yuppy Akwa Ibom Senator Bassey Akpan and Anambra State Oil Baron Fraudester who have been convicted by the Supreme Court
By Chinedu Oguh, Port Harcourt
Nigeria’s apex court, the Supreme Court, has delivered a crushing and final blow to a well-known socialite and yuppy former Akwa Ibom North East Senator, Albert Bassey Akpan.
Tentacle gathered that the Supreme Court of Nigeria on Friday February, 27, 2026 affirmed the decision of the trial court and Court of Appeal that convicted and sentenced the car freak former Akwa Ibom Commissioner for Finance to seven years imprisonment and the restitution of the sum of N204 million (Two Hundred and Four Million Naira) to Akwa Ibom State.
In a landmark ruling delivered by a five-man panel of the Supreme Court Justices led by Justice Stephen Adah dismissed Akpan’s final appeal in its entirety, affirming the conviction and sentence originally handed down by Justice Agatha Okeke of the Federal High Court in Uyo in June 23, 2023. The panel declared it found no grounds whatsoever to disturb the earlier verdicts.
Bassey’s journey to prison started following his prosecution by the Economic and Financial Crimes Commission (EFCC), led by prosecution counsel, Ekele Iheanacho (SAN) before Justice Okeke of the Federal High Court in Uyo, Akwa Ibom State for receiving bribes of 12 cars worth N254 million as Commissioner for Finance in Akwa Ibom state. He was convicted on all the seven count charges against him and sentenced to seven years in prison for each charge, totaling 42 years on Thursday December 1, 2022.
The court found that in accepting the luxury cars. Akpan had violated section 15 (2) (d) of the Money Laundering (Prohibition) Act 2011, an offence carrying a custodial sentence under the same legislation.
Having failed at the Federal High Court and again at the Court of Appeal – which dismissed his first appeal but controversially declined to uphold the trial court’s restitution order – Akpan brought his case before the Supreme Court in a last-ditch effort to escape both imprisonment and financial liability. The 27 February 2026 ruling ended that bid decisively.
In a move that went beyond merely affirming his sentence, the Supreme Court took the additional step of reinstating the restitution order that the Court of Appeal had set aside – ordering Akpan to refund N204 million to the federal government through the Economic and Financial Crimes Commission.
“The order of this court is that the conviction and sentence imposed by the lower court on the 23rd day of June 2023 on the appellant is hereby affirmed”, the panel declared it added that the appellant court’s decision to sidestep the restitution order “did not follow the law” and was accordingly set aside.
The ruling is being widely viewed as a significant victory for anti-corruption efforts in Nigeria, closing the door permanently on one of the more high-profile bribery cases to have worked its way through the country’s judicial system in recent years. He represented Akwa Ibom North East in the Senate between 2015 and 2023
In a related development, Justice O. M Anyachebelu of the Anambra High Court sitting in Awka has convicted and sentenced Engineer Nnaemeka Nwawka, Managing Director, Orient Petroleum Resources PLC, Jude Anniekwe Cyril and Sage Nebefeife foundation to 14 years imprisonment each for stealing, conversion and gratification to the tune of N25 billion.
They were jailed after being found guilty of ten count charges bordering on stealing, conversion and gratification
Count one of the charges reads: “That you NNAENEKA NWAWKA, JUDE ANNIEKWE CYRIL and THE REGISTERED TRUSTEES OF SAGE NEBEIFE FOUNDATION, sometimes between 23rd April to 21st December 2012 in Anambra State within the jurisdiction of His Honorable Court fraudulently converted to your personal use the aggregate sum of N82,856,934 (Eighty Two Million, Eight Hundred And Fifty Six Thousand, Nine Hundred And Thirty Four Naira) only which sum was transferred from Vhelbherg International Limited Company account domiciled in Standard Chartered Bank, Account Number 0000777216 into the account of Sage Nebeife Foundation domiciled in First Bank, Account Number 2017452111”.
Count two reads: “That you NNAENEKA NWAWKA, JUDE ANNIEKWE CYRIL and THE REGISTERED TRUSTEES OF SAGE NEBEIFE FOUNDATION, sometimes between 8th January to 24th May, 2013 in Anambra State within the jurisdiction of his Honorable Court fraudulently converted to your personal use the aggregate sum of N29,670,733 (Twenty Nine Million, Six Hundred And Seventy Thousand Seven Hundred And Thirty Three Naira) only which sum was transferred from Vhelbherg International Limited Company account domiciled in Standard Chartered Bank, Account Number 0000777216 into the account of Sage Nebeife Foundation domiciled in First Bank, Account Number 2017452111”.
They pleaded not guilty to the charges when they were read to them, prompting the E.F.C.C, through its counsel, Victor Ukagwu to go into full trial with him. The trial lasted ten years. The EFCC called four witnesses and tendered several documentary evidence admitted and marked exhibits.
The evidence showed how Nwawka ensured that contracts were awarded to his friend’s companies and eventually returned to him through his foundation and how he withdrew the said monies and used them for his personal needs.
Counsel to the first and third defendants, U.N Udechukwu, (SAN) and counsel to the second defendant, E.S.C Obiora, (SAN) held briefs for their clients, offering defenses on how the contract were handled. However, Justice Anyachebe found the defendants guilty and convicted them accordingly.
The court held that the prosecution proved its case beyond reasonable doubt and therefore sentenced Nwawka and his foundation to 14 years imprisonment. The court also ordered the convict and his foundation to refund the sum of N140,900,000 (One Hundred and Forty Million, Nine Hundred Thousand Naira) to Orient Petroleum Resources PLC
Tentacle further learnt that Nwawka and his co-travelers bagged their imprisonment when one of the investors in his company, Chief Cletus Ibeto who alleged that he invested N25 billion in Orient Petroleum Plc.’
He further alleged that the funds were siphoned through suspicious and bogus contracts awards to companies linked to the Managing Director and routed back through the foundation.
