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BREAKING: EFCC Re-Arraigns Nadabo Energy CEO Over Alleged ₦1.4B Oil Scam.
The Economic and Financial Crimes Commission (EFCC) re-arraigned Abubakar Ali Peters and his company, Nadabo Energy Limited, at the Lagos State High Court in Ikeja on March 31 over an alleged ₦1.4 billion oil subsidy scam.....KINDLY READ THE FULL STORY HERE▶
The case, now before Justice Ismail Ijelu following the retirement of Justice C.A. Balogun, involves a 27-count charge accusing the defendants of using forged documents to illegally obtain ₦1,464,961,978.24 from the Federal Government as oil subsidy payments.
One of the counts alleges that the defendants claimed a subsidy for importing 19,488,992 litres of Premium Motor Spirit under the Petroleum Support Fund but allegedly imported only 6,505,140.04 litres, fraudulently receiving ₦978,401,732.09. Another count accuses them of forging a Certificate of Marine Insurance from Staco Insurance Plc to facilitate the payment.
Peters pleaded not guilty to all charges.
Following the plea, EFCC’s counsel, S.K. Atteh, requested a trial date and urged that Peters be remanded in a correctional facility. Defence counsel, E.O. Isiramen, opposed the request, highlighting that Peters had been on bail since December 19, 2012, and had complied with all conditions.
Justice Ijelu ruled that Peters should remain on his existing bail. The court also instructed the sureties to appear at the next hearing to reaffirm their commitment and ordered the defence counsel to sign an undertaking to produce Peters in court.
The trial is now scheduled to commence on May 19, 20, and 21, 2026.
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Kwara PDP Protests As Govt Moves To Reopen Robbery Case Against Saraki, Others.
The Peoples Democratic Party (PDP) in Kwara State has strongly opposed reported moves by the state government to revisit the alleged Offa robbery case involving former Governor Abubakar Bukola Saraki and others.....KINDLY READ THE FULL STORY HERE▶
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2027: Oyo APC Senator Alli Declares Governorship Ambition.
Senator representing Oyo South, Sharafadeen Alli, has declared his intention to contest the Oyo State governorship election ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
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Showunmi Declares For Ogun 2027 Governorship, Seeks IPAC Support.
A PDP chieftain and convener of The Alternative, Otunba Segun Showunmi, has declared his intention to contest the 2027 Ogun State governorship election.....KINDLY READ THE FULL STORY HERE▶
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