Alleged N1.4bn Fraud: How oil company defrauded Nigerian govt 8m litres of petrol – EFCC chair

EFCC chair, Mr Bawa, testified as the fifth prosecution witness on how Nadabo Energy Limited allegedly defrauded the federal government of 8 million litres of petrol under the fuel subsidy regime.

By Kunle Sanni

The chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has told the Lagos State High Court in Ikeja, how Abubakar Peters and his company, Nadabo Energy Limited, allegedly defrauded the federal government of 8 million litres of petrol under the fuel subsidy regime.

According to a statement by the EFCC’s spokesperson, Wilson Uwujaren, Mr Bawa, testified as the fifth prosecution witness in the ongoing trial of Mr Peters and his firm on Monday.

Mr Bawa said records from banks, Staco Insurance Plc, and Q & Q Control Services Limited, among others, obtained during investigation showed that the defendants supplied about 6,000 MT, estimated to be about 7,953,962 litres of Premium Motor Spirit (PMS) also known as petrol but claimed to have supplied the 12,000 MT which is roughly 16,808,064 litres.


Other testimonies

Earlier testifying, Tunji Nasiru, an official of Staco Insurance Plc and third prosecution witness, said he knew Nadabo Energy Limited through his work at the company. Mr Nasiru, led in evidence by the prosecuting lawyer, S.K. Atteh, denied the authenticity of some documents with which the defendants had claimed fuel subsidy proceeds.

He said his firm received EFCC’s August 20, 2013 letter requesting confirmation of the authenticity of two Marine Insurance certificates.

“We went through our records and we responded to the letter, vide ours dated 6th September, stating that we had no such certificate in our records.”

He testified that indeed, Staco Insurance Plc had done some transactions for Nadabo Energy Limited in the past, but said, “this particular one, was not in our record”.

He identified some of the exhibits tendered in the case to include EFCC’s August 20, 2013 letter to Staco Insurance Plc and insurance certificate number 40016.

He also said the third document, “an Insurance Marine certificate number 40017 is not in our records.”

“The fourth document is our reply to the third document, which was the EFCC letter.

“The fifth document, I can recognise this very well, this is what we have in our record as Marine Insurance certificate 40017,” he added.

He further identified the certificates attached by the EFCC, which the company was asked to authenticate.

He said, “our response was that we do not have these certificates in our record.

“In other words, the certificates were not issued by us.”

Under cross-examination by the defence counsel, E.O. Isiramen, the witness confirmed that he had never met Abubakar Peters, the second defendant, but only had dealings with the company, Nadabo Energy Limited, the first defendant.

“The Marine Insurance certificate number 40017 is the original one that we have in our record and I can tell you the details contained therein,” he said, stressing that the content of the Marine Insurance certificate number 40017 sent to the company by the EFCC for authentication was far different in content from the one in the company’s record.

“Moreover, the Marine Insurance certificate number 40016 is not in our record,” he said.

Testifying as the fourth prosecution witness, Matthew Oladunjoye, a staffer of Quality & Quantity, Q & Q Control Services Nigeria Limited, confirmed working with Nadabo Energy Limited concerning the case.

He identified the letters, which were already before the court as exhibits, adding that the EFCC wrote to the company with regards to MT Songa, which he described as the ‘daughter vessel’, that covered the loading, and also MT Gotland Carolina, which he described as the ‘mother’ vessel that carried out Ship-to-Ship, STS with MT Songa.

“We covered the operation between the transfer between the mother vessel and the daughter vessel,” he said.

He testified further that the EFCC had requested the company to authenticate some documents relating to the transaction.

“We checked and verified and sent to EFCC those which are true copies from our company, and those, not true copies were also identified and sent back to the EFCC,” he said.

He further identified the documents certified by the company to be true copies, and those which he said did not emanate from Q & Q Control Services Limited, yet had a stamp and signature which did not belong to the company.

He said, “My lord, in summary, the quantity discharged by Gotland Carolina is 7,986,355 litres and the quantity received by Songa is 7,983,150 litres.

“They claimed to have discharged 16,808,054 litres as quantity discharged at Masters Energy by Songa, but based on the figures that we have at the STS point, the figure is higher than what is stated in our documents.”

The trial judge, C. A Balogun adjourned the case until July 6 and 7 for the continuation of the trial.

Mr Abubakar and his company are being prosecuted by the EFCC on charges of falsely obtaining money under the fuel subsidy regime.

He pleaded “not guilty” to the charges when he was arraigned on October 7, 2015, thereby prompting the commencement of his trial.

https://www.premiumtimesng.com/news/headlines/541075-alleged-n1-4bn-fraud-how-oil-company-defrauded-nigerian-govt-8m-litres-of-petrol-efcc-chair.html

They'll soon finish this country kpata kpata

As if something will be done. Be obidient. Stop listen to fake people tarnishing obi name. They all know is the best candidate. Let stop tribalism to chose who will rule us. What is yoruba achievement to masses of yoruba when obj was president? What is achievement of Niger delta when goodluck was president? What is achievement of north now that buhari is d president? They only enriching themselves and disuniting us civilians for their own selfish. I will never say obi is saint, as people campaigned for buhari as a saint, but rather, will let u know his d best candidate. Omo oduduwa tooooto ni mi oooo.

And the investigation would end online

Lol

LoneWolf212:
They'll soon finish this country kpata kpata

before masses get sense that selling their votes is d greatest mistake they are making.

FG should just put shame behind and give Dangote the 300 billion he needs to complete and start his refinery, either through loan or Joint venture arrangements

Subsidy of any form can never work. When Government began subsidising Tertiary education, Nigerian Universities became nonsense den of cultism, Olosho and Yahoo, with Benin and Ghanian Universities outranking them


China became a world power and top economy because Chinese government deliberately gave Loans to companies and entrepreneurs even when the venture fails Government bares the loss of the company and encourage a restart





.

Lies!

We nust take corruption fight seriously
Nigeria must be saved
Enough is enough

And some folks want us to continue with APC led government?.....Buhari na scam

Please can any kind nairalander help me with breakfast please.

I'm ill and have no money to buy drugs or food. Whatever little you can spare will be appreciated.

God bless you as you help a struggling, young, Nigerian.

6316451359 Fidelity bank.

Hmm

Corruption is the number 1 out of all the challenges wrecking the Country.

I was telling one Nigga the level of grip these Fulani demons got on this country is so tight that a light weighted politician among the contestant like Obi is not powerful enough to rescue this country but would his followers agree? No and funny thing is, most of his followers are former political apathy folks who just got interested in politics newly and thus, their understanding is limited

Peter Obi is the next Goodluck Jonathan pro max if by luck he wins (36%)possibility.

Can he do excellently well as a president? Absolute Yes
Does he have the power & madness to fight the cabals plunging this country into the unending crisis? No
Would he be controlled? Yes
Would his mumu button be activated like Jonathan when he becomes president? Yes
Does he have the power to rescue Nigeria from the bottom of mess she's in at the moment? No
Is theres possibility of him getting assassinated as a president and the North takes over? Yes
Would his people sell him out for money or position? Yes
How many SE big politicians are supporting him? Not enough to ensure his victory

Peter Obi is a good man, Yes that's correct but he's not yet ripe to take over leadership at the moment neither is he beasty enough to rescue Nigeria from her demonic enemies.

NIGERIA FOR SALE. SERIOUS BUYERS ONLY. Purpose of selling: damaged.

SMH
Which way Nigeria!?
We need vote into all leadership positions young visionary leaders come 2023 and most importantly vote out both APC & PDP alike.



@Seniorwriter

If as they are embezzling the money masses are seeing money to spend it's won't be painful

Sharing ratio gone wrong. The news came out because the government urchins were not given a favorable share as agreed. This I know

Nigeria is filled with corrupt dunce, who only care about their pocket

Lol. What do you expect from a Government of lazy, kleptomaniac rooted government?
I've said it before this Government will turn out to be the worst regime of corruption and gross ineptitude !!

How can you tell me that you shared Abacha's recovered loot of 322million dollars among 1.8million Nigerians?
Useless Government of miambiala..

Kuje prison has been bridge.
President's convoy attacked.

Only God knows next disaster awaiting to happen to This beautiful country.

Bete anu bete anu na'aru nama

Na dem dem

Nigeria lacks strong system to checkmate this kind of laughable fraud.


That's why we need a Peter Obi that will give attention to details. That will dot the I's and cross the T's.

He will make sure that there will be no duplication of figures.

Do you know the cost of 8m litres of oil before subsidy?

If you know you'd cry walai! 2.9 billion naira.

How much is ASSU asking for again?

Ok

Why subsidy must go..that's a good reason above.

Milking the nation treasury as usual