Abubakar Ali Peters charged with N761m oil subsidy fraud
The Economic and Financial Crimes Commission, EFCC, yesterday arraigned Abubakar Ali Peters and his company Nadabo Energy Limited before Justice S.S Ogunsanya of the Lagos State High Court, Ikeja on 21-count charge bordering on obtaining money under false pretence, diversion of Federal Government funds and forgery. The accused persons allegedly obtained N761,628,993.84 from the Federal Government of Nigeria under the Petroleum Support Fund for the purpose of importing 16,808,064 litres of Premium Motor Spirit (PMS) but fraudulently imported only 7, 953,962 litres and diverted the rest of the product and its proceeds 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. - See more at: https://www.ireporteronline.com/p8460_abubakar-ali-peters-charged-with-n761m-oil-subsidy-fraud#sthash.hWfdD7AY.dpuf