Court Sets Three-Month Deadline for EFCC in N1.4bn Oil Subsidy Fraud Trial
Court Sets Three-Month Deadline for EFCC in N1.4bn Oil Subsidy Fraud Trial
A Lagos State High Court sitting in Ikeja has directed the Economic and Financial Crimes Commission (EFCC) to wrap up its prosecution in an alleged N1.4 billion oil subsidy fraud case within three months.
The order was given by Justice Ismail Ijelu on Tuesday, March 31, 2026, following the fresh arraignment of Abubakar Ali Peters, Managing Director of Nadabo Energy Limited, alongside his company. The case had to begin anew after it was reassigned from a previous judge who recently retired.
Justice Ijelu expressed concern over the prolonged nature of the matter, which dates back to 2013, warning that the court would not entertain further delays in its progress.
The anti-graft agency is prosecuting the defendants on a 27-count charge, accusing them of using falsified documents to unlawfully obtain over N1.4 billion from the Federal Government under the oil subsidy scheme.
According to the charges, the defendants allegedly claimed subsidy payments for petroleum imports far exceeding the quantity actually delivered. In one instance, they were accused of receiving about N978.4 million for importing over 19 million litres of Premium Motor Spirit (PMS), whereas just over 6.5 million litres was reportedly supplied.
The prosecution also alleged that forged insurance documents were used to support the subsidy claims.
The defendant, however, pleaded not guilty to all counts.
During proceedings, prosecution counsel Seidu Atteh sought a trial date and requested that the defendant be remanded. Defence counsel Emmanuel Isiramen opposed the request, noting that his client had been on bail since 2012, complied fully with all conditions, and had consistently appeared in court.
In his ruling, Justice Ijelu allowed the defendant to remain on the existing bail terms. He, however, directed the sureties to appear at the next hearing to reaffirm their obligations, while also instructing defence counsel to undertake responsibility for ensuring the defendant’s attendance in court.
The case has been adjourned to May 19, 20, and 21, 2026, for the commencement of trial.
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