Alleged N1.4bn Oil Fraud: How Nadabo Energy Limited’s Boss Made False Transactions – Bawa

May 19, 2022

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has told a high court sitting in Lagos in the ongoing trial of Abubakar Ali Peters and his company, Nadabo Energy Limited, for an alleged N1.4 billion fraud, that Peters made only one confirmed genuine transaction in the six transactions involved in the oil business with St. Vanessa.

At the resumed proceedings on Wednesday, the defence counsel, E.O. Isiramen, continued with the cross-examination of Bawa, which he began on December 20, 2021.

Under cross-examination, Bawa acknowledged that there were six transactions. “The defendant had only one confirmed, genuine transaction with St Vanessa. That was the one for about 5,000 MT”, he said.

Bawa is the fifth prosecution witness, PW5 in the case which was before Justice C.A. Balogun, and the company is being prosecuted on a 27-count charge by the EFCC.