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Energy executive arraigned for fraud

08 October 2015, 11:06

Lagos - Lagos State High Court has deferred the case against an energy industry executive and his company to November.

Abubakar Ali Peters and Nadabo Energy Limited have appeared before Justice Ogunsanya on a 21-count charge bordering on obtaining money under false pretence, diversion of Federal Government funds and forgery.

The accused allegedly obtained the sum N761.62million from the Federal Government of Nigeria under the Petroleum Support Fund for the purpose of importing 16.8 million litres of Premium Motor Spirit (PMS).

Also read: Adamawa trio arraigned for N8 million fraud

It is alleged only 7.9 million litres were imported and the rest of the product and its proceeds diverted for personal use.

Abubakar (33) is also facing a similar charge brought against him by the EFCC before Justice Balogun of the Lagos State High Court.

The accused person as well as his company are pleading not guilty to the charges.

Justice Ogunsanya has granted bail to the accused and adjourned the case to November 12 for the commencement of trial.

- CAJ News

Tags nigeria fraud

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