Headlines

Alleged N1.4bn oil fraud: Counsel to Nadabo Energy stalls proceedings

Owolola Adebola

The ongoing trial of Abubakar Ali Peters and his company, Nadabo Energy Limited, for alleged N1.4billion fraud, before Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja, Lagos was, again, stalled on Tuesday, March 1, 2022.

This followed the submission of the counsel for the defendant, E.O. Isiramen, who told the Court that the defence was not ready to continue with the cross-examination of the fifth prosecution witness, PW5, Abdulrasheed Bawa, Chairman of the Economic and Financial Crimes Commission, (EFCC)

The EFCC is prosecuting Abubakar and his company on a 27-count charge for allegedly using forged documents to obtain the sum of N1,464,961,978.24 from the Federal Government as oil subsidy, after allegedly inflating the quantity of Premium Motor Spirit, (PMS) purportedly imported and supplied by the company.

One of the counts reads: “Nadabo Energy Limited and Abubakar Ali Peters, on or about the 3rd day of April 2012 at Lagos, within the Lagos Judicial Division, with intent to defraud, fraudulently obtained the sum of N978,401,732.09 (Nine Hundred and Seventy-eight Million Four Hundred and One Thousand Seven Hundred and Thirty-two Naira Nine Kobo) from the Federal Government of Nigeria by falsely claiming that the sum represented subsidy accrued to Nadabo Energy Limited under the Petroleum Support Fund for the importation of 19,488,992 litres of Premium Motor Spirit (PMS), which Nadabo Energy Limited purported to have purchased from Ashland SA Geneva Switzerland, and transported the 19,488,992 litres of PMS through MT American Express (Mother Vessel) and MT. St. Vanessa (Daughter Vessel) to Nigeria, whereas Nadabo Energy Limited only imported 6,505,140.04 litres of PMS to Nigeria through MT Evridiki (Mother Vessel) and MT St Vanessa (Daughter Vessel).”

Another count reads: “Nadabo Energy Limited and Abubakar Ali Peters, on or about the 25th day of October 2011 at Lagos, within the Lagos Judicial Division, with intent to defraud and in order to facilitate your obtaining money by false pretence from the Federal Government of Nigeria under the Petroleum Support Fund (PSF) forged a document titled: Certificate of Marine Insurance no. 0047851 and purported the Marine Insurance certificate to have been issued by Staco Insurance Plc to Nadabo Energy Limited.”

Isiramen had, on December 20, 2021, begun the cross-examination of the witness.

He had further cross-examined the witness on January 25, 2022.

However, at Tuesday’s proceedings, which was meant for the continuation of cross-examination, Isiramen told the Court that he would not be able to continue.
“We are not ready to continue,” he said.

He hinged his inability to continue with the cross-examination on the argument that the defence was yet to receive a Certified True Copy (CTC) of the court’s records of proceedings.

“We had applied for the certified copy of the proceedings, but we are yet to receive same,” he added.

The Judge, who expressed surprise at the argument of the defence counsel, stated that the records of proceedings had already been prepared and that no certification was required since they were needed only for cross-examination of the witness.

The Judge further noted that since the court’s file was a public document, the defence could also easily have requested it from the court’s Registrar and read it for the cross-examination, instead of asking for a certified true copy.

The Judge said: “The file is always there, and the records have already been printed out.
“What is going on here? Is it not to use it for cross-examination of the witness?”

Expressing concerns about the inability of the case to go on, the Judge noted that other cases were, in fact, vacated in order for the matter to go on.

“I didn’t want anything to disturb the proceedings and I don’t like what is going on here.

“You don’t use a thing like this to stall proceedings, “ the Judge added.

While adjourning till March 29, 30 and 31, 2022, the Judge held that: “I shall concede to the request made by the defendant’s counsel for the last time to proceed with the cross-examination of the prosecution’s witness.

“The record of proceedings already printed out should be handed over to the defence counsel for the purpose of cross-examination.”

Headlines

Customs Steps Up Nationwide Green Tax Awareness Ahead of July 1 Rollout

Funso OLOJO, Editor

The Nigeria Customs Service (NCS) has intensified its nationwide sensitisation campaign ahead of the July 1, 2026 implementation of the Green Tax Surcharge and related fiscal adjustments, aimed at promoting environmental sustainability and encouraging the importation of cleaner vehicles.

The awareness campaign, held on Friday July 26th, 2026 at the Apapa Area Command, brought together Customs officers, licensed customs agents, freight forwarders, importers and other key stakeholders under the theme: “Implementation of the Green Tax Surcharge and Related Fiscal Adjustments.”

Representing the Comptroller-General of Customs, Adewale Adeniyi, the Zonal Coordinator, Zone A, Mohammed Babadende, said the exercise was designed to ensure stakeholders fully understand the policy before its implementation.

“This sensitisation is designed to ensure that every stakeholder clearly understands the policy before implementation. Our objective is to eliminate uncertainty, promote voluntary compliance and guarantee uniform application of the Green Tax Surcharge across all commands,” Babadende stated.

Delivering a technical presentation, the Comptroller in charge of Tariff, System Audit and Coordination, Murtala Muazu, explained that the Green Tax Surcharge is different from conventional fiscal measures and would therefore require a separate assessment process.

He disclosed that the Service has simplified implementation through the HS Code declaration platform to facilitate seamless compliance by importers and clearing agents.

Muazu also revealed that the Federal Government has reduced import levies on vehicles from 20 per cent to 10 per cent, while import duty on used vehicles has been slashed from 15 per cent to five per cent to cushion the impact of the new environmental surcharge.

Area Controllers who participated in the sensitisation urged importers, licensed customs agents and the trading public to embrace the initiative, stressing that the reduction in import levies would lower the cost of doing business, promote legitimate trade and ultimately reduce transportation costs.

Stakeholders welcomed the policy but called for sustained public enlightenment to deepen understanding and ensure seamless compliance ahead of the July 1 commencement date.

Headlines

Beyond Lagos: The untold realities of Nigeria’s Eastern corridor seaports

Monday Discourse with Ibrahim Nasiru

When the World Bank and S&P Global recently released the 2025 Container Port Performance Index (CPPI), the headlines understandably erupted in celebration.

For Tin Can Island and Apapa to land in the global Top 20 for performance gains is undoubtedly a historic milestone.

Yet, for seasoned maritime analysts and industry stakeholders, a glaring question remains: what about the rest of Nigeria’s coastlines?

While the satellite data accurately captures a localized turnaround in the Lagos pilotage districts, it simultaneously masks a stark regional imbalance.

The narrative of Nigerian maritime modernization cannot begin and end in Lagos.

To truly turn the tide, the conversation must expand to the Eastern Corridor encompassing Onne Port, Port Harcourt Port, Calabar Port, and Warri Port.

The fundamental issue is that the World Bank’s CPPI relies strictly on automated vessel AIS data tracking.

It registers a win when ship turnaround times shrink at a berth, but it completely shuts out the structural and geographical deficiencies that prevent large vessels from even sailing into Eastern waters in the first place.

Modern deep sea shipping lines require drafts starting at 15 meters.

While multi-billion naira investments and natural depths allow Lagos and the expanding Lekki Deep Sea Port to receive mega-vessels, Calabar Port remains severely hindered by an un-dredged channel hovering around a shallow 6 to 7 meters.

Port Harcourt suffers from similar shallow constraints. Without aggressive, patriotic capital dredging projects, the devils in the details ensure that these regional Ports remain underutilized, regardless of how much digitization is deployed on paper.

It is easy for policymakers to announce massive financial interventions.

Critics are entirely right to point out that the Federal Government’s massive Port modernization plans must yield measurable metrics on the ground, not just political headlines.

However, recent data shows that commercial viability is waiting to be unlocked.

In overall cargo throughput metrics, Onne Port has consistently proven that the Eastern flank possesses massive economic power when given the operational room to breathe.

The roadmap for greenfield developments like the Ibom deep seaport and others exists, but real execution under the African Continental Free Trade Area (AfCFTA) framework will be the ultimate judge of these investments.

The current operational reality forces an unnatural economic bottleneck.

Importers in the South-East and South-South regions frequently clear their goods in Lagos, only to transport them across hundreds of kilometers of volatile highways back to Eastern markets.

This layout drives up logistics expenses, completely wiping out the macro efficiencies celebrated in recent National Bureau of Statistics (NBS) trade surplus figures.

The next institutional hurdle for the Managing Director of the NPA, Dr. Abubakar Dantsoho, and the Minister of Marine and Blue Economy, Adegboyega Oyetola, is the implementation of a unified, cooperative Port development strategy.

This requires more than just launching an electronic call-up system; it demands a deliberate re-alignment of tariff structures that actively incentivizes shipping consortia to divert traffic to regional hubs.

Ultimately, a Port system is only as strong as its weakest link. Celebrating the World Bank validation of Apapa and Tin Can is fair, but treating it as a nationwide victory is premature.

Until the institutional bottlenecks, channel depths, and security challenges of the Eastern Corridor seaports are solved with the same urgency applied to Lagos, Nigeria’s maritime sector will continue running on half its cylinders.

True maritime competitiveness is not won by building an elite logistics island in one state, but by unlocking the full economic potentials of the nation’s entire coastline.

Chief Ibrahim Nasiru, a public affairs Analyst, writes from Abuja

Features

Beyond Lagos ports: Why NPA should position Eastern ports for global recognition

Chief Nasiru Ibrahim

Monday Discourse with Ibrahim Nasiru focuses on why government should look beyond Lagos ports and position Eastern ports for global recognition.

Our feature last week on the World Bank Top 20 ranking for Tin Can and Apapa Ports sparked an intense industry debate.

The biggest question raised: What about the rest of Nigeria’s coastlines?

Dropping tomorrow morning, June 29th, 2026,we go beyond the Lagos headlines to break down the hidden operational realities of Nigeria’s Eastern Ports.

Don’t miss “Beyond Lagos: The Untold Realities of Nigeria’s Eastern Corridor Seaports”