The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, who is the fifth prosecution witness, PW5, in the ongoing trial of Abubakar Ali Peters and his company, Nadabo Energy Limited, for an alleged N1.4 billion fraud, on Wednesday, May 18, 2022, further told Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja, Lagos, that Peters made only one confirmed genuine transaction in the six transactions involved in the oil business with St. Vanessa. Peters and the company are being prosecuted on a 27-count charge by the EFCC.
At the resumed proceedings of the matter on Wednesday, the defence counsel, E.O. Isiramen, continued with the cross-examination of Bawa, which he began on December 20, 2021.
Under cross-examination, Bawa acknowledged that there were six transactions. "The defendant had only one confirmed, genuine transaction with St Vanessa. That was the one for about 5,000 MT”, he said.