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

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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

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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Ondo Crash: NAF Engages Igbokoda Community with Support for Bereaved Families

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NAF

Ondo Crash: NAF Engages Igbokoda Community with Support for Bereaved Families

In a demonstration of its commitment to community engagement and responsible action, the Air Officer Commanding (AOC), Tactical Air Command, Air Vice Marshal MC Ekwueme, visited Igbokoda, Ondo State, on the directive of the Chief of the Air Staff (CAS), Air Marshal Sunday Kelvin Aneke, to engage community leaders and residents following concerns over the potential impact of the ongoing recovery operations on their water source. During the engagement, the AOC acknowledged the concerns raised, assured the community of the Nigerian Air Force’s (NAF) commitment to addressing the issues, and appreciated the people for their patience and cooperation during this difficult period.
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The AOC also engaged personnel at the recovery site, where significant progress is being made despite the challenging terrain and difficult underwater conditions. Multiple pumping machines have been deployed to remove water from the area surrounding the crash site, a critical step towards accessing the main wreckage, which remains submerged and deeply embedded in the riverbed. This painstaking process requires sustained effort, specialised technical support and careful coordination to advance the recovery operations safely and effectively.

The NAF recognises the profound grief of the bereaved families and the concerns of Nigerians awaiting further progress. While the difficult riverbed conditions and the depth at which the wreckage lies make the operations complex, recovery personnel continue to work diligently towards accessing the main wreckage, with due regard for their safety and the dignity of the victims. The ongoing deployment of pumping equipment represents an important step towards facilitating the next phase of recovery.

Beyond the recovery efforts, the CAS has reaffirmed the NAF’s commitment to supporting the bereaved families through this painful period. He assured that all applicable entitlements, including benevolent funds, scholarships for eligible children and other approved welfare benefits, would be duly processed. The NAF recognises that its responsibility to the affected families extends beyond the recovery operations and remains committed to providing the necessary support with compassion, dignity and a deep sense of duty. The Service continues to engage with affected families and has established a dedicated helpline at Headquarters Nigerian Air Force to facilitate access to timely and appropriate information.

NAF

NAF

The NAF acknowledges the environmental concerns raised by the Igbokoda community and remains committed to engaging with residents and addressing the issues through appropriate channels. The Service appreciates the community’s cooperation and the dedication of personnel and partner agencies working under challenging conditions, and will sustain recovery efforts, support the bereaved families and provide verified updates on significant developments as the operation progresses.

Ehimen Ejodame
Air Commodore
Director of Public Relations and Information,
Headquarters, Nigerian Air Force.

16 October 2026
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NiDCOM Responds on Apology From Dabiri-Erewa, Over Remarks on Journalism

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NiDCOM

NiDCOM Responds on Apology From Dabiri-Erewa, Over Remarks on Journalism

The attention of the Nigerians in Diaspora Commission (NiDCOM) has been drawn to a statement by Mr Livinus Chibuike Victor, demanding a public apology from Hon. Abike Dabiri-Erewa, the Chairman/CEO, over remarks she reportedly made concerning the state of journalism in Nigeria.
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NiDCOM respects the right of every journalist, media practitioner and member of the public to respond to statements made by public officials. Constructive criticism is welcome, and the Commission does not seek to diminish the vital role of the Nigerian media in democracy, accountability and national development.

However, it is important to place the reported remarks in their proper context. During a panel discussion in Lagos, Hon. Dabiri-Erewa criticised specific incidents of inaccurate reporting and the misrepresentation of her response to a social-media post. She also expressed concern about declining professional standards, stating that “some journalism is going to the dogs” and that there were no longer adequate standards or values in certain practices.

Her comments were directed at irresponsible journalism and the failure to verify facts before publication, not at Nigerian journalists as a whole, nor at the noble profession of journalism itself. To present them as a blanket condemnation of all media practitioners is, therefore, a misreading of both her words and her intention.

Hon. Dabiri-Erewa’s record in the media is well known. As a broadcaster with the Nigerian Television Authority (NTA), she earned national recognition as a presenter and anchor of Newsline. She subsequently served in the House of Representatives, where she sponsored a bill intended to enhance the practice of journalism through stronger professional standards and self-regulation.

That bill was met with intense opposition, and Hon. Dabiri-Erewa was, in many quarters, virtually attacked for attempting to advance a framework that would have strengthened the profession. The proposal sought to create an environment in which journalism could be practised with recognised qualifications, ethical safeguards and institutional accountability.

Had that bill been adopted and properly implemented, journalism in Nigeria would today be a more structured, better regulated and more widely respected profession. It would have provided practitioners with clearer standards, stronger protection and a credible system of self-regulation, while preserving the independence essential to a free press.

NiDCOM therefore rejects the suggestion that Hon. Dabiri-Erewa lacks regard for journalists or seeks to discredit the media. Her intervention arose from personal experience, a longstanding interest in the welfare of the profession and concern that unverified claims can cause serious reputational harm, inflame ethnic tensions and erode public trust.

At the same time, NiDCOM acknowledges that Nigerian journalists often work under difficult and sometimes dangerous conditions. Many continue to investigate wrongdoing, ask difficult questions and give voice to marginalised communities with courage and professionalism. These contributions deserve recognition, and the Commission remains committed to respectful, constructive engagement with the media.

NiDCOM

NiDCOM

The appropriate response to concerns about media standards is not a demand for apology over a candid observation, but a renewed national conversation on fact-checking, editorial responsibility, journalist welfare, press freedom and sustainable self-regulation. NiDCOM is ready to contribute to that conversation in a manner that strengthens, rather than weakens, the Nigerian media.

Hon. Dabiri-Erewa stands by her concern for responsible journalism. She also reaffirms her respect for the countless journalists who uphold the highest standards of the profession, often at great personal cost.

Signed:

Abdur-Rahman Balogun. Director: Media, Public Relations and Protocols Unit, NiDCOM
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Tinubu Orders Full Reconstruction of Benin-Asaba Road, Reopens First Niger Bridge

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Tinubu Tells Umahi

Tinubu Orders Full Reconstruction of Benin-Asaba Road, Reopens First Niger Bridge

The Honourable Minister of Works, Senator Engr. David Umahi, CON, has announced the return of the Benin-Asaba Road to the Federal Ministry of Works, disclosing that President Bola Ahmed Tinubu has directed the comprehensive redesign and full reconstruction of the 136-kilometre highway as a dual carriageway.
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Speaking on Thursday, October 15, 2026, during the reopening of the First Niger Bridge on the Asaba-Onitsha Road, Umahi also announced remedial measures which are ongoing on critical sections of the Benin-Asaba Road, assuring motorists that permanent reinforced concrete pavement works would commence.

The Minister described the development as a major step towards resolving the longstanding challenges faced by motorists travelling between the South-South and South-East, noting that the return of the road to the Ministry of Works would enable the Federal Government to take direct responsibility for its reconstruction.

“What stopped the Ministry of Works from reconstructing Benin-Asaba Road, the concessioning of that route, has been unsealed. We now have our route back to the Ministry of Works,” Umahi declared.

He disclosed that President Tinubu had directed the total and comprehensive redesign of the 136-kilometre Benin-Asaba Road as a dual carriageway, adding that the design process was ongoing and construction would commence upon its completion.

“The legacy of President Bola Tinubu, you will see it ongoing on this road. Never again will our people suffer on this road,” Umahi assured.

The announcement came as the Minister outlined the Federal Government’s intervention to protect and rehabilitate the First Niger Bridge, a strategic transport link connecting communities and businesses across the South-East and South-South.

Umahi explained that the Ministry of Works responded after a content creator alerted the government to activities threatening the structural integrity of the bridge. An inspection subsequently revealed that some individuals were removing bolts and cutting iron components from the steel structure, activities he described as dangerous and capable of causing a bridge collapse.

He noted that the bridge was originally built and commissioned in 1966 by Nigeria’s then Prime Minister, Sir Abubakar Tafawa Balewa, but had suffered from inadequate maintenance over the years.

According to the Minister, the government has undertaken rehabilitation works similar to those carried out on Lagos’ Third Mainland Bridge, including asphalt resurfacing and median demarcation. He explained that the demarcation was necessary because bridges were not designed to withstand static loads indefinitely.

The ongoing safety improvements include the installation of CCTV cameras, solar-powered lighting and observation centres at both ends of the bridge. Security personnel will use the facilities to monitor activities on and beneath the structure, while three turnaround passages have been created to help motorists manoeuvre safely in the event of a vehicle breakdown.

“Exactly the treatment we gave to the Third Mainland Bridge is the treatment we gave to this place,” Umahi said, explaining that the government was applying established rehabilitation and monitoring measures to protect the bridge and improve safety for road users.

He commended the contractor, SKCC, for its work but clarified that the rehabilitation was not yet 100 per cent complete. Outstanding works include repainting the entire steel structure, completing the maintenance of rust-affected areas beneath the bridge deck, installing CCTV cameras above and below the bridge, and providing canopies at both ends.

The Minister also issued a strong warning against illegal sand dredging around bridges, reminding the directors of the Federal Ministry of Works in Delta and Anambra States that federal regulations prohibit sand dredging within a 10-kilometre radius of bridges.

He warned that disciplinary action would follow if the illegal activity continued, directing the state directors to report any failure by security agencies to enforce the regulations.

Beyond the First Niger Bridge and the Benin-Asaba Road, Umahi highlighted other major infrastructure projects across the South-East and South-South, describing them as part of President Tinubu’s wider commitment to national infrastructure development.

He disclosed that the President had directed the reconstruction of approximately 400 kilometres of the East-West Road, which traverses the Niger Delta, from the Benin axis through the South-South to Cross River State.

According to Umahi, the project would serve as a spur of the 750-kilometre Lagos-Calabar Coastal Highway, another major infrastructure project under the Tinubu administration.

“Some people thought that the East-West Road was a road in the South-East, and they started talking, trying to intentionally impinge the South-South brothers with the South-East brothers. East-West Road is entirely in the Niger Delta,” he said.

The Minister dismissed suggestions that construction on the Lagos-Calabar Coastal Highway had stopped, explaining that work remained ongoing and that the remaining sections in Bayelsa and Cross River would be taken up in the coming weeks.

He maintained that the coastal highway was a legitimate infrastructure investment for the Niger Delta and that the region was entitled to its share of national development projects.

“The coastal road is the right of the Niger Delta people. And the President will complete that 750-kilometre road. And they will also complete the SPP, which is the full reconstruction of 400 kilometres of East-West Road,” he declared.

Umahi also announced that the designs for the first and second sections of the East-West Road were nearing completion, with construction expected to commence soon.

On the Enugu-Port Harcourt corridor, he said reconstruction had reached approximately 90 per cent completion. He also highlighted the ongoing reconstruction of a 44-kilometre section in Port Harcourt using reinforced concrete pavement.

In Anambra State, the Minister announced the introduction of reinforced concrete pavement works on another major road project. He said the 107-kilometre dual carriageway project had recorded progress, with 33 kilometres completed, while work on the remaining 40-kilometre section from the First Niger Bridge axis was expected to commence within two weeks.

He also pointed to the ongoing construction of Section 2B of the Second Niger Bridge bypass, a 17.5-kilometre project valued at ₦172 billion, as another example of the Federal Government’s infrastructure investment in the region.

“These are projects that show the President’s commitment to the South-East. We cannot thank the President enough,” Umahi said, adding that the administration had deliberately integrated the region into its national infrastructure development programme.

The Minister defended the use of reinforced concrete pavement on selected highways, explaining that the approach was intended to provide durable roads capable of serving Nigerians for decades.

He illustrated the quality of the new road infrastructure with an anecdote about a pilot who reportedly mistook a newly constructed road for an aircraft runway, saying the incident is a proof of the quality and smoothness of the roads being delivered.

Umahi also addressed criticism of President Tinubu’s economic reforms, arguing that the measures were necessary to prevent a deeper economic crisis and lay the foundation for long-term recovery.

“When you have a wound and you have to stitch the wound, there will be pains at the initial time, but that pain is the beginning of healing,” he said.

“The worse is over. We are now into prosperity. We are into prosperity.”

He challenged critics to provide practical alternatives to the administration’s policies rather than resort to insults and hate speech. He argued that Nigerians should assess the reforms by examining the country’s economic indicators and the direction of the economy.

“The President saved this country from catastrophic economy,” Umahi declared, maintaining that the administration had taken difficult decisions in the national interest rather than to win immediate applause.

He added that the benefits of the reforms needed to translate into improved living conditions for ordinary Nigerians, noting that the economy was moving towards the microeconomic level, where households and small businesses could begin to feel the impact.

Turning to the political debate ahead of the 2027 presidential election, Umahi explained the right of political leaders and citizens to make independent choices, rejecting suggestions that support for President Tinubu amounted to a betrayal of the South-East.

“Why is Peter Obi looking for votes in the South-West? Why is he looking for votes in the North? So people from the South-East must support only one person? When did we come together and say that all the people from the South-East will support Peter Obi?” he asked.

Tinubu Tells Umahi

Umahi, Tinubu

The Minister maintained that democracy allows citizens to make their own political decisions and urged the region to assess the Federal Government by its development projects, infrastructure investments and approach to national inclusion.

He called on political leaders, the elite and other influential voices in the South-East to educate young people about the relationship between democracy, development and infrastructure, insisting that political choices should be informed by the needs of the people rather than regional sentiments.

“Let me tell the people of the South-East, it is what you vote in January 2027 that is our right to brag. That is our right to negotiate. Let us not be very funny. Let us not be very sentimental. Let us stop the hate speeches and embrace the new wave of hope,” he said.

Umahi argued that the region’s participation in the electoral process was important to its ability to negotiate for further development and secure continued investment in roads and other critical infrastructure.

“Democracy is about development. It is about infrastructure. It is about inclusiveness. The President has done that,” he said.

“And we are here in the South-East to declare that the South-East is for President Bola Tinubu.”

The Minister concluded by describing President Tinubu as a leader whose infrastructure programme, in his view, demonstrates a commitment to national inclusion beyond ethnic and regional boundaries.

“The evidence of what we are doing today is a total testimony that President Bola Tinubu is a detribalised Nigerian,” Umahi said.

Francis Nwaze
Senior Special Assistant to the Honourable Minister of Works (Media)
October 16, 2026
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