The Economic and Financial Crimes Commission, EFCC today arraigned Abubakar Ali Peters and Nadabo Energy Limited before Justice C. A. Balogun of the Lagos High Court, Igbosere on a two count charge of fraudulently obtaining money from the Federal Government through petroleum Support Fund

Wilson Uwujaren Acting Head, Media & Publicity of the anti- graft agency said the offence is contrary to section 1 (2) and (3) of the Advanced Fee Fraud and Other Fraud Related Offences Act, 2006.

Count one of the two count charge reads ?That you Nadabo Energy Limited, and Abubakar Ali Peter, between February and April 2012 within the jurisdiction of this Honourable Court with intent to defraud conspired to commit an offence to wit: obtaining the sum of N1, 464, 961, 978. 24. (One Billion, Four Hundred and Sixty-Four Million, Nine Hundred and Sixty One Thousand, Nine Hundred and Seventy Eight Naira, Twenty-Four Kobo) from Federal Government of Nigeria by falsely claiming that the sum represented subsidy accruing to you under the Petroleum support Fund for the importation by you of liters of Premium Motor Spirit (PMS) which Nadabo Energy claimed to have imported into Nigeria through MT American Express Ex MT St. Venessa and financed through Form M No: MF878037 which representation you knew to be false?.

Peter pleaded not guilty to the two count charge when it was read to him. Prosecution counsel, Ben Ubi, asked the court to give a trial date as the Commission was ready to proceed with the case.  Taiwo O. Taiwo, counsel to the defendant, told the court that his client had filed a bail application. However, Justice Balogun ordered that the defendant be remanded in EFCC custody till tomorrow, December 11, 2012, when the bail application will be heard, but adjourned the substantive case to January 16, 2013 for trial.

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