Alleged N1.4bn Oil Subsidy Fraud: Court Admits More Evidence Against Nadabo Energy Boss


The ongoing trial of Abubakar Ali Peters and his company, Nadabo Energy Limited, for an alleged N1.4billion fraud, before Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja, Lagos continued on Tuesday, November 16, 2021, with the Court admitting in evidence all the documents tendered by the prosecution against the defendants.

Abubakar and his company are being prosecuted by the EFCC, for allegedly using forged documents to obtain 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.

They pleaded “not guilty” to the charges preferred against them.

The prosecution counsel, S.K. Atteh, had, at the sitting on March 10, 2021, sought to tender correspondences between the EFCC and Petrocam Trading PYT Limited as well as the Corporate Affairs Commission (CAC) in relation to the alleged fraud. Pictures below show the EFCC Chairman, Abdulrasheed Bawa who is the fifth prosecution witness and the lead investigator, prosecution counsel, S.K. Atteh and the defendant, Abubakar Ali Peters, (folding his arms).

For details of this and other stories, visit our website: http://www.efccnigeria.org.

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