N1.4bn subsidy fraud: EFCC arraigns another oil marketer



The Economic and Financial Crimes Commission (EFCC yesterday arraigned an oil marketer and his firm before a Lagos High Court sitting in Igbosere over alleged theft of N1.4 billion from the Federal Government through the Petroleum Support Fund. Abubakar Ali Peters and Nadabo Energy Limited were arraigned before Justice Christopher Balogun on a two-count charge of conspiracy and fraud.

The commission alleged that the defendants defrauded the government of the said sum by falsely claiming that the sum represented subsidy accruing to them under the Petroleum Support Fund for the importation of Premium Motor Spirit (PMS). It alleged that Nadabo Energy had claimed to have imported the PMS into Nigeria through MT American Express Ex MT St. Venessa and financed through Form M No: MF878037, which representation both defendants knew to be false.

It accused them of committing the offence between February and April 2012 in Lagos. The alleged offence was contrary to Sections 1 (2) and (3) of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006. However, the first defendant pleaded not guilty to the two-count charge on behalf of both of them when it was read to him. Prosecution counsel, Ben Ubi, asked the court for a date for trial, as the commission was ready to proceed with the case.

But counsel to the defendant, Taiwo O. Taiwo, told the court that his client had filed a bail application. However, the court ordered that the defendant be remanded in EFCC custody till today for bail application.

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  4. any time you open the news to read, it is all about indicting one company or the other over corruption related matters. When are we going to start hearing this company or individual is found guilty and severely sentenced for their crimes. It has started to look like a joke How long does it take case to go through the criminal court process— Forever? Let us be serious with each another so we can eleiminnate corruption in our society.

  5. Every day what we heard was efcc arraigns this person and that persons why cann’t them judge all these criminals and put them in jail

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