EFCC Re-arraigns Oil Firm CEO Over Fraud
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The Economic and Financial Crimes Commission has re-arraigned Abubakar Ali Peters, chief executive of Nadabo Energy Limited, over an alleged N1.4 billion oil subsidy fraud in Lagos.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
The case was heard before Ismail Ijelu at the Lagos State High Court in Ikeja after it was reassigned following the retirement of the previous judge.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
Prosecutors said Peters and his company face a 27-count charge for allegedly using forged documents to obtain about N1.46 billion from the Federal Government under the Petroleum Support Fund.
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Another allegation involves a forged marine insurance document used to support subsidy claims. Peters pleaded not guilty to all charges.
The prosecution asked the court to fix a trial date and remand the defendant, but the defence argued that he had been on bail since 2012 and had met all conditions without fail.
Justice Ijelu allowed Peters to continue on his existing bail and directed his sureties to appear in court to reaffirm their commitment.
The defence counsel was also ordered to ensure the defendant’s attendance.
The court adjourned the case to May 19, 20, and 21, 2026, for trial.
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