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Alleged N762.6m fraud: EFCC presents more witnesses against Nadabo Energy boss




THE Economic And Financial Crimes Commission (EFCC) has presented more witnesses against Abubakar Ali Peters and his company, Nadabo Energy Limited.

The anti-graft agency disclosed this on its official Twitter page on Tuesday.

The EFCC presented new more witnesses against the accused persons at the continuation of the trial on Tuesday.


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Peters and his company are being prosecuted over 21-count charge bordering on forgery and subsidy fraud. The case is before Justice S.S. Ogunsanya of the Lagos State High Court sitting in Ikeja, Lagos.

The defendants were accused of obtaining money under false pretence, diversion of Federal Government funds and forgery to the tune of N762.6 million.

They allegedly used forged documents to obtain N1.4 billion from the Federal Government as oil subsidy payments after inflating the quantity of PMS purportedly supplied to 14,000 metric tonnes.

The defendants had pleaded not guilty to the charge.

Chairman of the EFCC Abdulraman Bawa had in March 2021 appeared before the court to give evidence in the fraud case.

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Bawa testified as the fifth prosecution witness.

Led in evidence by the prosecution counsel, Saidu Ateh, the EFCC boss narrated to the court how the fraud was perpetrated.

Bawa said the defendants submitted to the Petroleum Product Pricing Regulatory Agency (PPPRA) documents showing that they imported 14,000 metric tonnes of PMS whereas they brought in only 4,850 metric tonnes of the product.

According to the EFCC, the defendants fraudulently claimed subsidy on 14,000 metric tonnes of PMS.

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