Bawa in Court to Testify Against Nadabo Energy

The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa has arrived in the Lagos high court in Ikeja.

The EFCC boss, who is also the prosecution witness, is in court to continue his testimony on how an oil marketer, Abubakar Peters and his company, Nadabo Energy Limited allegedly forged documents to obtain over 1 billion naira, as subsidy from the federal government.

Earlier in September, the EFFC chairman told the court how the commission in 2012 received a complaint from the then minister of petroleum resources, Diezani Alison-Madueke, alleging fraud in the importation of petroleum by the firm.

A special team constituted by the EFCC to probe the subsidy regime questioned officials of the petroleum products pricing regulatory agency, the CBN, enterprise bank, the debt management office and many other companies involved in dealings with the company.

The team found that Nadabo Energy Limited forged all documents, leading to the subsidy payment of over 1 billion naira by inflating the number of petroleum products he imported.