N1.4bn Oil Subsidy: EFCC boss, Bawa testifies in court as trial continues

Breaking : EFCC chairman, Bawa testifies in N1.4bn oil subsidy fraud trial By Henry Ojelu Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa today appeared before an Ikeja High Court to give evidence in a N1.4 billion fraud trial involving an oil company, Nadabo Energy. Bawa before his confirmation as EFCC chairman had earlier appeared before the court last year as prosecution witness. The EFCC had accused Abubakar Ali Peters and his company, Nadabo Energy of allegedly using forged documents to obtain N1,464,961,978.24 from the Federal Government as oil subsidy after allegedly inflating the quantity of premium motor spirit, PMS purportedly supplied to 14,000M. The defendants had pleaded not guilty to the prosecution’s fraud charge. Bawa in his previous testimony had told the court that based on investigation carried out on the defendant’s dealings with Staco Insurance Company, “the Certificate of marine insurance used by the defendant for the transaction in question was forged.” The matter was adjourned by Justice Balogun to February 10, 16, 23 and March 9, 2021 for continuation of trial. Bawa is currently giving more evidence in the trial as at the time of filing this report.

Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa on Wednesday appeared before an Ikeja High Court.

His appearance is to give evidence over a N1.4 billion fraud trial involving an oil company, Nadabo Energy.

Bawa before his confirmation as EFCC chairman had earlier appeared before the court last year as prosecution witness.

The EFCC had accused Abubakar Ali Peters and his company, Nadabo Energy of allegedly using forged documents to obtain N1,464,961,978.24 from the Federal Government as oil subsidy after allegedly inflating the quantity of premium motor spirit, PMS purportedly supplied to 14,000M.

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The defendants had pleaded not guilty to the prosecution’s fraud charge.

Bawa in his previous testimony had told the court that based on the investigation carried out on the defendant’s dealings with Staco Insurance Company, “the Certificate of marine insurance used by the defendant for the transaction in question was forged.”

The matter was adjourned by Justice Balogun to February 10, 16, 23 and March 9, 2021 for continuation of trial.

Bawa is currently giving more evidence in the trial as at the time of filing this report.

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