Nadabo Energy Limited Allegedly Defrauds EFCC

Nadabo Energy Limited Allegedly Defrauds EFCC

September 28, 2021 Uncategorized 0

A high court in Ikeja Lagos has obtained information from a prosecutor witness on how Abubakar Peters and his company, Nadabo Energy limited allegedly forged documents collecting the the sum of ₦1.4 billion for importing 12,000 premium motor spirits

The Economic and Financial Crime Commission (EFCC) second witness on the case , Abdul Rasheed Bawa , chairman of the commission told the court that his defendant that the vessel ship[ed in 12 million litres . Information was obtained from Petroleum Products Price and Regulatory Agency (PPPRA) saying the company was paid more than ₦1,4bn which should have been ₦606 million. The witness went further to say that when questions were asked from the defendant on the importation of PMS he said, “He claimed to have imported about 12,000 metric tonnes of PMS, while our investigation revealed that he imported about 6,000 metric tonnes of PMS”.

The EFCC chairman Bawa stated “When we received it, we compared it with the ones he submitted to us and found out that he claimed that he imported 6,000 MT each with two Letters of Credit financed by then Spring Bank Plc which was not the case.”Bawa in his further elaborate testimony told the Court that in the course of the investigation which began in 2012, the EFCC has several correspondences with the DMO, the PPPRA, the Enterprise Bank, the Corporate Affairs Commission, CAC, Staco Insurance Company, Delaney Petroleum Corporation, Skye Bank, Q & Q Services Nigeria Limited.

The court eventually overruled by the court admitting them into evidence. The EFCC had arraigned Abubakar Peters and his company Nadabo Energy Limited on a 21-count charge bordering on obtaining money under false pretence, diversion of Federal Government funds and forgery.The trial, which began in October 2015, predates the appointment of Bawa as the Chairman of the EFCC. Abubakar is also facing a similar charge brought against him by the EFCC before Justice Christopher Balogun of the Lagos High Court.
Justice Sedoton S.Ogunsanya adjouned the matter till November 1 and 2, 2021 for cross-examination of the witness.

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