EFCC arraigns Chairman of Nadabo Energy for N761m fuel subsidy scam
The Economic and Financial Crimes Commission, EFCC, on
Monday October 7th arraigned Abubakar Ali Peters and his
company Nadabo Energy Limited before Justice S.S
Ogunsanya of the Lagos State High Court, Ikeja on 21 count
charge bordering on obtaining money under false pretence,
diversion of Federal Government funds and forgery.
According to a statement from EFCC, 33 year old Abubakar
Ali allegedly obtained the sum of N761,628,993.84 from the
Federal Government of Nigeria under the Petroleum Support
Fund for the purpose of importing 16,808,064 litres of
Premium Motor Spirit (PMS) but fraudulently imported only
7, 953,962 litres and diverted the rest of the product and its
proceeds for personal use.
the EFCC before Justice Balogun of the Lagos State High
Count one of the charge reads, “ that, you Nadabo Energy
limited on or about 26th day of September 2011 in Lagos
within the Ikeja judicial division fraudulently obtained the
sum of N761,628,993.84 from the Federal Government by
falsely representing that the sum represented the subsidy
accrued to Nadabo Energy Limited under the Petroleum
Support Fund for the importation of 16,808,064 litres of
Premium Motor Spirit (PMS) which Nadabo Energy limited
purported to have purchased from Delano Petroleum
Corporation Akara Tortola British Virgin Island, and
transported the 16,808,064 through MT Gotland Carolina
(mother vessel) and MT Sonia (daughter vessel) to Nigeria,
whereas Nadabo Energy limited only imported 7, 953,962
litres of PMS from Delany Petroleum Corporation Akara
Tortola British Virgin Island and transported 7,953,962 litres
of PMS through MT Gotland Carolina (mother vessel) and
MT Songa (daughter vessel) to Nigeria.
his company pleaded not guilty to the charges.
Justice Ogunsanya granted bail to the accused persons on
the terms earlier offered them by Justice Balogun and
adjourned the case to November 12, 2015 for the
commencement of trial.