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EFCC Re- Arraigns Nadabo Energy Boss, Ali Peters, Firm In Lagos In Alleged N1.4bn Oil Fraud

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Kwara Ex-Governor Ahmed

EFCC Re- Arraigns Nadabo Energy Boss, Ali Peters, Firm In Lagos In Alleged N1.4bn Oil Fraud

Alleged N1.4bn Oil Fraud. The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Tuesday, March 31, 2026, re-arraigned Nadabo Energy Boss, Abubakar Ali Peters, for an alleged N1.4 billion oil fraud before Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja.

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 preferred against him.

In view of his plea, prosecution counsel, S.K. Atteh, asked for a trial date and also prayed that the defendant be reminded in a Correctional centre.

Responding, defence counsel, E.O. Isiramen, objected to the prosecution’s prayer for the remand of the defendant.

He argued that the defendant was granted bail on December 19, 2012, and had perfected the bail conditions.

He also submitted that his client had never jumped bail since then, and prayed the court to allow the defendant to continue on his existing bail.

Kwara Ex-Governor Ahmed

Fraud

Justice Ijelu ruled that the defendant should continue on the existing bail.

The sureties were ordered to appear in court on the next adjourned date to undertake that they would continue to act as his sureties.

The judge also ordered the lawyer to sign an undertaking to produce the defendant on the next adjourned date.

The matter was adjourned till May 19, 20 and 21, 2026 for the commencement of trial.

Crime

Court Jails One Abdulrahman Mallam For False Information In Maiduguri

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Friends Jailed 12 Months For Stealing Clothes In Jos

Court Jails One Abdulrahman Mallam For False Information In Maiduguri

Justice Aisha Kumaliya of the Borno State High Court sitting in Maiduguri convicted and sentenced one Abdulrahman Mallam to six months imprisonment.

The convict was arraigned on Thursday, April 2, 2026 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a one -count charge for the offence of giving false information.

The charge read: “That you, Abdulrahman Mallam between the period of 24 October, 2025 to March, 2026 at the Economic and Financial Crimes Commission, 80, Baba Shehu Laminu Street, Maiduguri, within the Jurisdiction of this Honourable Court did make written statements to Alex Mbu Anjor and Sadiq Danjuma Junior, officers of the Economic and Financial Crimes Commission to wit: “I introduced myself to bank fraud section as a civil servant with Ministry of Youth and Sport Poverty Alleviation Borno State…. I was already retired when I stand as surety…” which statement you knew to be false and you thereby committed an offence contrary to section 39(2)(a) of the Economic and Financial Crimes Commission Establishment Act, 2024 and punishable under section 39(2)(b) of the same Act.”

The defendant pleaded “guilty” to the charge when it was read to him. Based on his plea, prosecution counsel, S.O Saka prayed the court to convict and sentence him accordingly. While counsel for the defendant A. B. Dikwa prayed the court to temper justice with mercy as the defendant is remorseful for his action.

Justice Kumaliya thereafter sentenced and convicted him to six months imprisonment with an option of N50, 000 (Fifty Thousand Naira) fine.

His journey to the correctional facility started when he gave false information to stand as a surety at the Economic and Financial Crimes Commission, EFCC, Maiduguri Zonal Directorate, Bank Fraud unit.

In another development, The Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC on Thursday, April 2, 2026 arraigned one Ibrahim Mohammed Tungushe before Justice Aisha Kumaliya of the Borno State High Court, Maiduguri.

Count two read: “That you, Ibrahim Mohammed Tungushe on or about November, 2025 in Maiduguri, Borno state within the jurisdiction of this Honourable Court dishonestly misappropriated and converted to your own use the aggregate sum of N 1,250,000.00 ( One Million Two Hundred and Fifty Thousand Naira) only, being proceeds from the sale of 100 cartons of indomie instant noodles, belonging to one Bukar Babakura which you received under the guise that you will supply same to your customers and make payments for it within 24 (twenty four) hours and thereby committed an offence contrary section 296 and punishable under section 297 of the Borno state penal code Law and other matter connected therewith (No. 3 Vol. 48 Law 2923) respectively.”

Friends Jailed 12 Months For Stealing Clothes In Jos

Jail

The defendant pleaded “not guilty” to the charges prepared against him by the EFCC.

Counsel for the prosecution S.O Saka prayed the court for a trial date and to remand the defendant in prison custody.

Thereafter, Justice Kumaliya adjourned till April 16, 2026 for commencement of trial and remanded the defendant in Maiduguri Maximum Custodial Centre.

His journey to the correctional facility started when he received 00 cartons of indomie instant noodles, belonging to the complainant received under the guise that the same will be supplied to customers and make payments within 24 (twenty four) hours. He neither returned the instant noodles nor the complainant’s money,

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Court: Emefiele Violated CBN Act in Naira Redesign Exercise-Witness

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Forfeited 753 Abuja Duplexes

Court: Emefiele Violated CBN Act in Naira Redesign Exercise-Witness

Naira redesign. The Seventh Prosecution Witness, PW7, Chinedu Eneanya, in the trial of the former governor of the Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele on Wednesday, April 1, 2026, told Justice Maryanne Anineh of the Federal Capital Territory High Court, Maitama, Abuja, that Emefiele violated the provisions of the CBN Act in the 2022 naira redesign exercise.

Emefiele is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a four-count charge, bordering on the alleged unlawful printing of new naira notes.

Testifying under cross-examination by defence counsel, Olalekan Ojo, SAN, at Wednesday’s proceedings, the witness disclosed that “the investigation conducted by the team showed that the defendant disobeyed the provisions of the CBN Act, 2007. The Central Bank must have board recommendations before the currency is redesigned.”

Further in his testimony, the witness disclosed that Emefiele presented three sample designs of the proposed naira notes in the denominations of N1000, N500 and N200, which were approved by the President.

“The president approved on the 11th page and directed that the design be done locally. However, investigation showed that what was eventually produced was not what was presented to the president,” he said.

The witness also disclosed that the original design of the old naira notes was handled by De La Rue, a UK-based company.

On whether the EFCC invited members of the CBN Board of Directors or its Committee of Governors during the investigation, Eneanya stated that the Commission obtained the statement of the official in charge of the Apex Bank’s Corporate Secretariat.

Earlier in the cross-examination, the witness identified Exhibit N1 to be the statement made by Ahmed Aliyu, Managing Director of the Nigeria Security Printing and Minting Company Limited, NSPMC

When asked if his investigation uncovered any contradiction in the content of Page six of Exhibit N1, the witness stated that the printing of the naira notes had been carried out locally before the investigation commenced. He also confirmed that the Central Bank of Nigeria paid NSPMC for the production of the currency.

Forfeited 753 Abuja Duplexes

Emefiele

Under re-examination, prosecution counsel, Abbas Mohammed, sought clarification on whether the President’s directive related to the design or production of the currency to which the witness stated that the redesign of the naira notes was carried out and given to President Buhari to approve.

“Investigation shows that the design of the currency was already shown to the president and it was approved,” the witness explained.

Justice Anineh thereafter adjourned the matter till May 11, 2026 for continuation of trial.

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EFCC Arrests Tiktoker Ekeh For False Information About Commission

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EFCC Arrests Tiktoker

EFCC Arrests Tiktoker Ekeh For False Information About Commission

False information. Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested Udoma David Ekeh, a Tiktok user, for spreading false information about the Commission and its officers.

Udeh, in December 2025, alerted the public that some operatives of the Ilorin Zonal Directorate of the Commission were kidnapped by bandits while on an assignment in a location in Kwara State.

EFCC Arrests Tiktoker

EFCC Arrests Tiktoker

He also insinuated that the bandits demanded huge ransom from the EFCC before releasing the purported officers. All his claims are fabricated, together with the use of his Tiktok account to incite and misinform the public about the Commission’s relentless efforts in tackling the menace of internet fraud.

Preliminary investigations showed that the suspect is involved in romance scam by using his Facebook account to impersonate a foreigner with the name Garg Carta

He will be charged to court soon

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