By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: EFCC chairman testifies in N1.4bn oil subsidy fraud trial
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

EFCC chairman testifies in N1.4bn oil subsidy fraud trial

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: March 10, 2021
Share
2 Min Read
SHARE

Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, appeared before an Ikeja High Court on Wednesday to give evidence in a N1.4 billion fraud trial.

The fraud trial involved an oil company, Nadabo Energy, which Bawa had earlier testified against before his appointment as the EFCC boss.

Bawa, who is the fifth prosecution witness,  had told Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja that the defendant used forged documents to benefit from the Federal Government’s subsidy regime.

Bawa had in February identified two documents as email correspondence between him and Ullrich Afini Awani of Global Commodities Africa and the Certificate of Identification.

- Advertisement -

On Wednesday, the EFCC boss led in evidence by the tribunal counsel, Saidu Ateh, continued his testimony by analysing the email correspondences of the defendant.

He said that the email exposed significant fraud in the documents presented by the company to the Petroleum Support Fund.

Bawa said his investigation showed that the defendants took about 6 million litres PMS from the mother vessel to their chartered vessel.

“In addition, the email also informed us that one Mr Jide Akpan was the agent of the vessel.

- Advertisement -

“We invited the said Akpan and during the course of our interrogation with him he confirmed that the first defendant through the second defendant deferred the vessel and paid for it,” he told the court.

Abubakar Peters (Managing Director), alongside his company, Nadabo Energy Limited, were arraigned on December 10, 2012, before Justice L. Balogun of the Lagos State High Court sitting in Ikeja, Lagos for offences bordering on obtaining money by false pretences, forgery and uttering forged documents to the tune of N1, 464, 961, 978. 24.

They were alleged to have obtained the money from the Federal Government by falsely claiming that it represented the subsidy accruing to them.

The defendants pleaded not guilty when the charge was read to them.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Abdulrasheed BawaAbdulrasheed Bawa EFCCBawaEFCC
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Ibori Loot: Reps urge FG to return £4.2m to Delta
Next Article AGF Malami: My office not investigating Tinubu

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 weeks ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Taiwo Oyedele
FG Sets Ambitious Target to Raise Tax-to-GDP Ratio to 18% Within Three Years
Economy
Suspected IPOB/ESN Landmine Explosion Claims Six Lives in Imo Market
News
Political Rift Between Wike and Fubara Resolved After Presidential Mediation
News
NNPC
Senate Issues Ultimatum as NNPCL Fails to Appear Over N210 Trillion Audit Discrepancies
Energy & Oil
Federal Revenue Agencies to Undergo Restructuring as President Tinubu Enacts Major Tax Reform Legislation
News Top stories
- Advertisement -
Ad imageAd image

You May Also Like

NewsTop stories

BREAKING: President Tinubu Endorses Four Major Tax Reform Bills

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
Lagos State Government
News

Lagos State Government Refutes Peter Obi’s Allegation of Property Demolition, Orders Probe

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
News

Oyo State Governor Seyi Makinde Renames Polytechnic Ibadan in Honour of Late Dr. Omololu Olunloyo

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?