N1.4bn fraud: EFCC chairman, Bawa testifies against Nadabo Energy 

Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, on Wednesday testified against Nadabo Energy in a N1.4bn oil subside fraud before an Ikeja High Court.

Bawa, before his confirmation as EFCC chairman, had earlier appeared before the court last year as a 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 14,000mt.

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 the continuation of trial.