Alleged N1.4bn Fraud: Court Admits More Evidence Against Nadabo Energy Boss, Firm In Lagos

Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja, on Tuesday, June 30, 2026, admitted in evidence more documents tendered by the Economic and Financial Crimes Commission, EFCC, in the alleged N1.4 billion petroleum subsidy fraud involving the Managing Director of Nadabo Energy Limited, Abubakar Ali Peters, and his company.
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Peters alongside his company, Nadabo Energy Limited, was previously standing trial before Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja. However, the matter was re-assigned to Justice Ijelu, following Justice Balogun’s retirement.

The defendants are being prosecuted by the EFCC on a 27-count charge bordering on the alleged use of forged documents to obtain the sum of N1,464,961,978.24 from the Federal Government as oil subsidy.

One of the counts reads: “Nadabo Energy Limited and Abubakar Ali Peters, on or about the 3rd day of April, 2012, at Lagos, within the Lagos Judicial Division, with intent to defraud, fraudulently obtained the sum of N978,401,732.09 (Nine Hundred and Seventy-Eight Million Four Hundred and One Thousand Seven Hundred and Thirty-two Naira Nine Kobo) from the Federal Government of Nigeria by falsely claiming that the sum represented subsidy accrued to Nadabo Energy Limited under the Petroleum Support Fund for the importation of 19,488,992 litres of Premium Motor Spirit (PMS), which Nadabo Energy Limited purported to have purchased from Ashland SA Geneva Switzerland, and transported the 19,488,992 litres of PMS through MT American Express (Mother Vessel) and MT St. Vanessa (Daughter Vessel) to Nigeria, whereas Nadabo Energy Limited only imported 6,505,140.04 litres of PMS to Nigeria through MT Evridiki (Mother Vessel) and MT St Vanessa (Daughter Vessel).”

Another count reads: “Nadabo Energy Limited and Abubakar Ali Peters, on or about the 25th day of October 2011, at Lagos, within the Lagos Judicial Division, with intent to defraud, and in order to facilitate your obtaining money by false pretence from the Federal Government of Nigeria under the Petroleum Support Fund (PSF), forged a document titled: Certificate of Marine Insurance no. 0047851 and purported the Marine Insurance certificate to have been issued by Staco Insurance Plc to Nadabo Energy Limited.”

He pleaded “not guilty” to the charges when they were read to him.

At the resumed sitting on Monday, June 29, 2026, the prosecution counsel, S. K. Atteh, called the third prosecution witness, PW3, Adaobi Amanda Obiakor, an EFCC investigator, who narrated how the Commission investigated the alleged subsidy fraud.

Obiakor told the court that the investigation commenced after the EFCC received petitions dated January 5, 2012, from the Minister of Petroleum Resources and some civil society organisations alleging widespread fraud in the petroleum subsidy scheme.

She identified several letters written by the EFCC to the Petroleum Products Pricing Regulatory Agency (PPPRA), requesting documents relating to marketers involved in the subsidy regime, including Nadabo Energy Limited.

The witness stated that the PPPRA supplied a bundle of documents that formed part of the Commission’s investigation.

The prosecution tendered the petitions, correspondence with the PPPRA, and the agency’s responses. The defence counsel, Paul Daodu, SAN, raised no objection, and Justice Ijelu admitted the documents in evidence.

Obiako further testified that analysis of the documents revealed an allocation granted to the defendant in August 2011 and subsequent import permits. She stated that the documents indicated that the transaction was financed by Enterprise Bank, prompting the EFCC to write to the bank on February 8, 2012.

According to the witness, Enterprise Bank, in its response dated February 18, 2013, informed the Commission that one of the documents attached to the EFCC’s inquiry did not emanate from the bank and supplied what it described as the authentic document.

The prosecution tendered the correspondence between the EFCC and Enterprise Bank, together with the bank’s certified true copies of relevant documents.

The defence did not object, and the court admitted them as exhibits.

The witness also told the court that the EFCC traced subsidy payments made by the PPPRA through Sky Bank Plc, now Polaris Bank.

She also identified letters written by the Commission to the bank on December 5, 2012, and February 8, 2013, as well as the bank’s responses dated February 4 and February 20, 2013.

The documents, together with related banking instruments, were tendered by the prosecution without objection from the defence and were admitted in evidence.

The Bank documents revealed the following, MT EVRIDIKI, 35, 291,069 Metric tone and 47,882,120 liters on 29 October, 2011. MT ST VANESSA, 4,850,962 Metric tone on 2 December, 2011.

The trader is Petrolcam Trading (PTY) Limited on SPG/DLC/11/003 dated 27 October, 2011 valued at $4,780,125 with drawing amount of $5,087, 203.85. The marketer is Nadabo Energy Limited.

Further documents admitted included correspondence between the EFCC and Petrocam, shipping documents supplied by the company, letters exchanged with the Corporate Affairs Commission (CAC), certified true copies of company documents, and correspondence with the PPPRA.

The prosecution also tendered an email from one Afeni Awani to Abdulrasheed Bawa, the immediate past chairman of the EFCC, during the investigations accompanied by a certificate of identification.

Although the defence counsel, Daodu, objected to the admissibility of the email, arguing that it was sent to Bawa’s personal email address and did not comply with Section 84 of the Evidence Act governing electronically generated evidence, Justice Ijelu overruled the objection and admitted the email and accompanying certificate in evidence.

The court also admitted a summary of the transactions prepared by Bawa as well as the extra-judicial statements of the defendants.

Following the conclusion of the examination-in-chief, defence counsel informed the court that cross-examination of the witness would commence at the next sitting.

Justice Ijelu subsequently adjourned till Tuesday, June 30, 2026 for the defence to cross- examine the witness.

During the cross-examination at Tuesday’s sitting, the witness confirmed that she was one of the members of the investigative team that handled the case.

However, when shown the investigation report already admitted in evidence, she acknowledged that although it contained a summary of the team’s findings, her name did not appear on the document.

The witness also identified Exhibit P27, a letter dated January 20, 2012, addressed to the Managing Director of Nadabo Energy Limited.

She told the court that the letter was prepared and signed by Olaolu Adegbite.

On Exhibit P29(a), the extra-judicial statement of the second defendant, the witness admitted that there was no indication on the document showing it was recorded in his presence.

Court

She, however, maintained that the statement, obtained on January 28, 2012, and February 8, 2013, was made voluntarily. She further confirmed that no legal practitioner was present when the statement was taken.

The witness also told the court that she was not the maker of Exhibit P8, a letter dated June 21, 2012, and was not authorised to sign it. She equally stated that she did not prepare Exhibit P10.

When asked whether any of the documentary exhibits tendered before the court, apart from his oral testimony, showed that she was a member of the investigation team, the witness responded that her name did not appear on any of the documents.

Obiakor said she participated in the investigative visit to the Lagos depot, but did not take part in the team’s visit to the Port Harcourt depot.

Justice Ijelu subsequently adjourned the matter till October 12 and 13, 2026, for the continuation of trial.
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Alleged N336.9m Fraud: EFCC Arraigns Man, His Company In Lagos

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, Ikoyi, on Monday, June 29, 2026, arraigned Abdulkarim Muhammad Arome, and his company, Cresco Oil and Gas Limited before Justice O. A. Okunuga of the Lagos State High Court sitting in Ikeja over an alleged N336,993,863.35 ( Three Hundred and Thirty-six Million, Nine Hundred and Ninety Three Thousand, Eight Hundred and Sixty Three Naira, Thirty-five kobo) fraud involving Lotus Bank.
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The defendants were arraigned on an amended three-count charge bordering on conspiracy, stealing and retention of proceeds of criminal conduct.

According to the charges, the offences are contrary to Sections 409 and 285 of the Criminal Law of Lagos State, 2015, Section 285(1) of the Criminal Law of Lagos State, 2011, and Section 17(a) and (b) of the Economic and Financial Crimes Commission (Establishment) Act, 2004.

Count one reads:

“Abdulkarim Muhammad Arome, Peter Daniels Prosper, (at large) and Cresco Oil and Gas Limited sometime 2022 at Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to Steal money, property of Lotus Bank”.

Count two reads:

“Abdulkarim Muhammad Arome, Peter Daniels Prosper and Cresco Oil and Gas Limited sometime between 2022 and 2023, in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your own use an aggregate sum of N336.993,863.35 (Three hundred and thirty-six million, nine hundred and ninety-three thousand eight hundred and sixty-three Naira, thirty-five Kobo), property of Lotus Bank”.

The defendants pleaded not guilty to all the charges when they were read to them.

EFCC

Following the arraignment, prosecuting counsel, E. S. Okongwu, asked the court for a trial date and urged that the defendants be remanded in a Correctional facility pending the commencement of trial.

Defence counsel informed the court that she intended to file bail applications and prayed for a short adjournment to enable the applications to be heard.

Justice Okunuga ordered that the defendants be remanded at the Ikoyi Correctional Centre and adjourned the case until October 7, 2026, for the commencement of trial.
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NAF Strengthens Joint Battlefield Coordination Through Air-To-Ground Integration And Civilian Harm Mitigation Training

The Nigerian Air Force (NAF), through the Air Warfare and Doctrine Centre (AWDC), has reinforced its commitment to strengthening joint operational effectiveness by conducting an in-theatre Air-to-Ground Integration (AGI) and Civilian Harm Mitigation (CHM) orientation training for personnel of Operation Savannah Shield. Held from 22–26 June 2026, the programme brought together personnel drawn from the Nigerian Army, Nigerian Navy and the NAF.
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The specialised training was designed to deepen participants’ understanding of joint force employment, enhance air-ground coordination and improve mission planning and execution within contemporary operational environments.

The comprehensive programme combined classroom instruction, interactive engagements and practical demonstrations to enhance participants’ operational competence. Training focused on key air-to-ground integration procedures, joint planning, mission coordination and contemporary operational practices, alongside legal, ethical and practical measures for mitigating civilian harm during military operations.

An abridged Air Liaison Officers’ course was also conducted for NAF pilots and Regiment officers at NAF Base Kainji, broadening their understanding of joint air operations, operational planning, air mobility coordination and inter-service collaboration. These engagements further strengthened participants’ appreciation of integrated battlefield operations and the importance of precision, professionalism and effective teamwork in modern military missions.

Speaking during the programme, the Commandant, Air Warfare and Doctrine Centre, Air Vice Marshal Garba Jibia, underscored the growing importance of integrated operations in addressing evolving security challenges, noting that effective coordination, rapid decision-making and seamless cooperation between air and ground forces are essential to mission success.

NAF

Echoing the Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke’s assertion that “Decisive air power delivers its greatest effect when seamlessly integrated with surface operations,” he explained that the training was carefully designed to enhance professionalism and mission readiness in line with the Chief of the Air Staff’s command philosophy. Participants described the programme as insightful, practical and professionally rewarding, noting that the knowledge gained would strengthen future operational planning and mission coordination.

The successful training further underscores the Nigerian Air Force’s commitment to building an integrated, mission-ready joint force capable of delivering precise air power effects while safeguarding civilian lives, thereby enhancing operational effectiveness and national security.
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