The Economic and Financial Crimes Commission, EFCC, on Wednesday 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 the sum N761.6 million 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.
The accused person as well as his company pleaded not guilty to the charges and Justice Ogunsanya granted bail to the accused persons on the terms earlier offered them by Justice Balogun and adjourned the case to November 12, 2015 for the commencement of trial.
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