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Subsidy scam: How Nadabo Energy, Abubakar Alli Peters, used forged documents to obtain N1.4bn from Nigerian government - EFCC

EFCC Chairman, Abdulrasheed Bawa


A Lagos High Court sitting in Ikeja, Nigeria, was on Wednesday, hinted by the Economic and Financial Crimes Commission, EFCC, how 

Abubakar Alli Peters, and his firm, Nadabo Energy Limited, allegedly used forged documents to receive the sum of N1.4bn for fuel subsidy from the Federal Government of Nigeria, FGN.

Being led in evidence by lawyers to the Commission, Saidu Ateh, Rotimi Oyedepo alongside others, the EFCC Chairman, Abdulrasheed Bawa, informed Justice Sebotan Ogunsanya, who presided over the court that Abubakar Alli Peters, and his firm, Nadabo Energy Limited, forged all the documents leading to the subsidy payment of N762 million by inflating the quantity of the Petroleum products imported. 

Saw a further told the judge that the bank which financed the imposition, had explained that the Local Purchase Order, LPO, of the Petroleum product financed by them is N666m as against N1.4bn claimed by the defendant. 

Whilst adding that the vessel used in importing the product only brought in 8 million litres against the claim of the defendant that the vessel shipped in 12 million litres, the EFCC Chairman explained that, "Investigation revealed how all the correspondences that led to the receipt of N1.4 billion by the defendants were all forged."

Earlier in his testimony, the Commission's helmsman had informed the court that a complaint was received from the then Minister for Petroleum Resources, Diezani Allison Madueke, on how the defendant received the sum of N1.4bn for the importation of 8 million litres but inflated it to 12 million litres and received the excess of N762 million, instead of N666 million.

Bawa equally insisted that investigation in respect of the defendant to the Corporate Affairs Commission, CAC, and Starco Insurance PLC to authenticate the product shows that the documents used by the defendant to receive the excess of N762m subsidy were forged. 

According to Bawa, "We equally wrote a letter to the PPPRA to confirm what the defendant is entitled to, but the agency responded that the defendant is only entitled to N683m as against N1.4bn he received from the Federal Government for subsidy of N762 million, which he never imported."

The EFCC Chairman then tendered the two statements of the defendant offered to EFCC during investigation in 2015.

However, counsel to the defendant, Osagie Isiramen, objected to the admissibility of the statements on the grounds that it was not obtained in the presence of his lawyer and that he was not given water to drink.

He then urged the court to order for trial within trial to test the voluntariness of the statements. 

But the trial judge in her short ruling dismissed the objection and admitted the statements in evidence and marked them as exhibit P26 and P27 respectively. 

Justice Ogunsanya adjourned further trial till November 1 and 2, 2021 for Bawa’s cross-examination by the defendants.

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