Friday, 1 April 2022

Alleged N1.4bn Oil Fraud: Court Adjourns Nadabo Energy Boss’ Trial Till May 17

The ongoing trial of Abubakar Ali Peters and his company, Nadabo Energy Limited, for an alleged N1.4 billion fraud, before Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja, Lagos continued on Thursday, March 31, 2022, with the cross-examination of the fifth prosecution witness, PW5, Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission, EFCC.

The EFCC is prosecuting Abubakar and his company on a 27-count charge for allegedly using forged documents to obtain the sum of N1, 464,961,978.24 from the Federal Government as oil subsidy, after allegedly inflating the quantity of Premium Motor Spirit, PMS, purportedly imported and supplied by the company.

At today's sitting, Bawa continued with his cross-examination by the defence counsel, E.O. Isiramen. Under cross-examination, he reiterated that the EFCC "conducted a thorough investigation" of the alleged fraud.

The case has been adjourned till May 17 and 18, 2022.  For details of this and other stories, visit our website:

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