Peters and Nadabo Energy Limited are facing 21 counts bordering on forgery and subsidy fraud amounting to the sum of over N761 million.
The Economic and Financial Crimes Commission (EFCC) on Tuesday presented more witnesses before Justice Sedoten Ogunsanya of the Lagos State High Court sitting in Ikeja, Lagos State, against Abubakar Ali Peters and his Company, Nadabo Energy Limited.
Peters and Nadabo Energy Limited are facing 21 counts bordering on forgery and subsidy fraud amounting to the sum of over N761 million.
One of the counts filed against Peters and his company by the EFCC reads, “Nadabo Energy Limited and Abubakar Ali Peters, on or about the 26th day of September 2011 in Lagos, within the Ikeja judicial division, fraudulently obtained the sum of N761,628,993.84 from the Federal Government by falsely representing that the sum represented the subsidy accrued to Nadabo Energy Limited under the Petroleum Support Fund for the importation of 16,808,064 litres of Premium Motor Spirit (PMS), which Nadabo Energy Limited purported to have purchased from Delano Petroleum Corporation Akara Tortola British Virgin Island, and transported the 16,808,064 litres through MT Gotland Carolina (mother vessel) and MT Sonia (daughter vessel) to Nigeria, whereas Nadabo Energy Limiter only imported 7,953,962 litres of PMS from Delany Petroleum Corporation Akara Tortola British Virgin Island and transported 7,953,962 litres of PMS through MT Gotland Carolina (mother vessel) and MT Songa (daughter vessel) to Nigeria.”
But Peters, who was arraigned on October 7, 2015, pleaded “not guilty” to the charges leading to the commencement of his trial.