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How An Oil Company Swindled The Nigerian Government Out Of N1.4 Billion In Fraud: EFCC

Abubakar Peters and his company, Nadabo Energy Limited, are accused of defrauding the federal government of 8 million liters of gasoline during the fuel subsidy system, according to Abdulrasheed Bawa, chairman of the Economic and Financial Crimes Commission (EFCC).

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

Records from banks, Staco Insurance Plc, and Q & Q Control Services Limited, among others, that were obtained during the investigation, according to Mr. Bawa, showed that the defendants supplied about 6,000 MT, or roughly 7,953,962 liters of Premium Motor Spirit (PMS), also known as gasoline, but claimed to have supplied the 12,000 MT, or about 20,000 liters.

Other evidence:-

The third witness for the prosecution, Tunji Nasiru, a representative of Staco Insurance Plc, earlier testified that he was acquainted with Nadabo Energy Limited as a result of his employment there. Mr. Nasiru, who was cross-examined by the prosecution's attorney, S.K. Atteh, denied the veracity of some documents the defendants had used to support their claims of fuel subsidy proceeds.

He said that his company had received a letter from the EFCC dated August 20, 2013 asking for verification of the legitimacy 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.”

In his testimony, he acknowledged that Staco Insurance Plc had previously completed certain transactions for Nadabo Energy Limited, but he claimed that "this particular one, was not in our record."

He named the letter from the EFCC to Staco Insurance Plc dated August 20, 2013, as well as insurance certificate number 40016, as some of the materials offered in the case.

He added that the third paper was:

“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 also mentioned the certificates that the EFCC had provided and asked the business to certify.

He stated:

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

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

The witness admitted during cross-examination by the defense attorney, E.O. Isiramen, that he had only dealt with the company, Nadabo Energy Limited, the first defendant, and had never met Abubakar Peters, the second 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.

As the fourth witness for the prosecution, Matthew Oladunjoye, a member of the Quality & Quantity team at Q & Q Control Services Nigeria Limited, acknowledged working on the case with Nadabo Energy Limited.

The EFCC wrote to the company regarding MT Songa, which he described as the "daughter vessel" that handled the loading, and MT Gotland Carolina, which he described as the "mother" vessel that performed Ship-to-Ship, STS with MT Songa, according to the witness, who identified the letters, which were already on display in court as exhibits.

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

He added that the EFCC had asked the business to certify a few documents related 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 distinguished between the documents that the business had certified as legitimate copies and those that, while not coming from Q & Q Control Services Limited, bore a stamp and signature that did not.

He stated:

“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.”

Trial adjournment was ordered by the trial judge, C. A. Balogun, for July 6 and 7.

The EFCC is pursuing legal action against Mr. Abubakar and his business on allegations that they fraudulently obtained funds from the fuel subsidy program.

When he was arraigned on October 7, 2015, he entered a "not guilty" plea to the charges, which signaled the start of his trial.


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