Nigeria, July 8 -- The Economic and Financial Crimes Commission (EFCC) on Wednesday arraigned former managing director of Port Harcourt Refining Company Limited (PHRC), Ahmed Dikko, for money laundering.

Mr Dikko appeared before Judge Inyang Ekwo of the Federal High Court in Abuja to face 12 charges of money laundering.

The EFCC arraigned him alongside Masterpiece Projects & Investment Limited.

The defendants pleaded not guilty to all the charges.

Judge Ekwo subsequently granted him bail in the sum of N150 million with one surety and fixed 12, 13 and 14 October for the commencement of trial.

In the charges filed on 22 June by EFCC's prosecution lawyer Ekele Iheanacho, a Senior Advocate of Nigeria (SAN), the anti-graft agency alleged ...