Tag: EFCC

The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned the Managing Director of Nadabo Energy Limited, Abubakar Ali Peters, over an alleged N1.4 billion oil subsidy fraud.

Peters and his company were re-arraigned before Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja.

The case was previously before Justice C.A. Balogun but was reassigned following the judge’s retirement.

According to the EFCC, the defendant allegedly converted an aggregate sum of about ₦157,000,000, part of which was paid into his First City Monument Bank account by Nathaniel Russell Okpenyi, Managing Director and Chief Executive Officer of Ursyfin Integrated Services Ltd. The funds were purportedly for the award of contracts.

The charge states that the alleged offences contravene Section 18(1) and (2)(b) and (d) of the Money Laundering (Prevention and Prohibition) Act, 2022, and are punishable under Section 18(3) of the same Act.

The Kaduna Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has arraigned one Bashir Bello Ibrahim, a former Kaduna State government contractor and Chief Executive Officer, CEO, of Formal Act Legacy Limited, before Justice R. M. Aikawa of the Federal High Court, sitting in Kaduna, for fraud.

He was arraigned on five-count charges bordering on advance fee fraud, money laundering, retention of proceeds of crime and obtaining money under false pretence.

The Benin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, is to arraign...