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Alleged N1.4bn Oil fraud: Court adjourns Nadabo Energy boss’ trial till March 31

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 continued on Tuesday, March 29, 2022, 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.”

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Customs

Again, Apapa Customs intercepts, seizes two containers – laden Codeine syrup worth N3.398 billion

Funso OLOJO, Editor 
In what has now become a routine exercise, the Apapa customs command of the Nigeria Customs Service has once again intercepted handful substance suspected to Codeine syrup.
The latest seizure was made barely five days after the Comptroller-General of Customs (CGC), Bashir Adewale Adeniyi,  declared that Apapa Port is no longer a playground for smugglers or criminal syndicates hiding behind legitimate trade documentation
In a swift follow-up operation on Sunday, March 15th,  2026, the Command, in a joint collaboration with the National Drug Law Enforcement Agency (NDLEA), intercepted and seized two containers laden with a total number of 3,398 cartons (339,800 bottles) of Codeine-containing Syrup (CSP Codeine) carefully concealed in household utensils at the Apapa Port.
Cumulatively, the seizures have a Duty Paid Value (DPV) of Three Billion, Three Hundred and Ninety Eight Million, Naira (₦3,398,000,000.00) only.
The details of the seizures arevas follows:  a Container No. MRKU 3816476 found to contain 1,700 cartons (170,000 bottles) of CSP Codeine concealed with 38 cartons of pearl plating insulated casserole/5′ Bullet Insulated Hotspot and  Container No. TGBU 5399178 was found to contain 1,698 cartons (169,800 bottles) of CSP Codeine concealed with 36 cartons of pearl plating casserole.
 Both containers have been converted to seizure in accordance with the Nigeria Customs Service Act 2023 as amended.
Speaking on the latest interception, the Customs Area Controller (CAC) Apapa Area Command, Comptroller Emmanuel Oshoba, said the seizure serves as a clear demonstration of the Command’s unwavering commitment to the directives and vision of the CGC.
“This fresh seizure, coming just five days after the CGC’s visit and strong warning to criminal elements, is a direct response to his charge on us.
“We are fully aligned with the Service’s intelligence-led enforcement strategy and will continue to make Apapa Port extremely hostile to smugglers and drug traffickers,” he stated.
He commended the National Drug Law Enforcement Agency (NDLEA) for its seamless collaboration and unwavering support in the successful operation.
Comptroller Oshoba maintained that the Apapa Area Command remains steadfast in its resolve to protect public health, safeguard national security and facilitate only legitimate trade, in line with the CGC’s renewed emphasis on technology-driven operations and zero tolerance for smuggling activities.
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Aviation

FAAN resumes toll collection at Airports, adopts hybrid payment method 

Gloria Odion, Reporter
The Federal Airports Authority of Nigeria(FAAN) have resumed collection of toll at all its toll plazas located at the airports in the country, including Murtalar Mohammed International Airport, Lagos.
The toll suspension arose from the chaos which the new cashless payment method introduced by FAAN recently generated which resulted in long queues of motorists at these facilities.
This development has raised public outcry which necessitated the intervention of President Bola Ahmed Tinubu who directed the suspension of the cashless payment system.
However, the Minister of Aviation and Aerospace Development, Festus Keyamo, has directed the resumption of toll collection at all these plazas.
In a press statement by his Special Adviser on Media and Communications, Tunde Moshood, the Minister declared that a hybrid access gate payment should be adopted by FAAN at the toll gates located at the Airports in the country.
“Following the earlier suspension of the full cashless Access Gate payment system as directed by the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu due to the traffic gridlock it created, the Minister of Aviation and Aerospace Development met with officials of the Federal Airports Authority of Nigeria (FAAN) and senior officials of the Ministry.
“After reviewing the initial implementation and the operational challenges observed, the following decisions were reached:
” The Ministry has resolved to engage concessionaires in order to introduce a fully automated or electronic system at all access gates at our airports in order to fully and eventually eliminate cash payments.
” In the meantime, a hybrid payment system that accommodates both cash and card payments will resume at all airport access gates with effect from Friday, March 13, 2026.
” Motorists who already possess FAAN Go Cashless Cards may continue to use them until further notice.
“Other electronic payment options, including POS terminals and other approved digital channels, will also remain available.
“Members of the public and road users are encouraged to obtain and use the FAAN Go Cashless Card as the Authority continues to enhance and fully optimise the cashless payment system.
“This directive restores the previous access  gate payment arrangement whilst the Ministry continues to work on the fully automated or electronic system” the statement concluded.
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Headlines

NPA shines as Outstanding Agency of the Year 2025 at Champions newspaper Awards ceremony 

Funso OLOJO,  Editor 
The Nigerian Ports Authority (NPA) has won another award as the Outstanding Agency of the Year 2025 conferred on the agency by Champions Newspaper at its 2025 Awards ceremony held in Lagos.
Receiving the award on behalf of the Managing Director of the Authority, Dr. Abubakar Dantsoho, the General Manager, Corporate Affairs, Mr. Ikechukwu Onyemekara, described the award as recognition of Danthoso  vigorous leadership in implementing smart initiatives that align with the NPA’s vision to become the Maritime Logistics Hub for Sustainable Port Services in Africa.
The NPA MD highlighted the invaluable support of the Minister of Marine and Blue Economy, Adegboyega Oyetola, which he said has been instrumental in achieving these remarkable successes.
According Dantsoho, some of the key remarkable performances of NPA include sustained port efficiencies, which contributed  to Nigeria’s year-on-year trade surplus of ₦7.5 trillion and ₦6.7 trillion in Q2 and Q3 2025 (per NBS and NESG reports), driven mainly by exports via NPA platforms.
He also mentioned the successful execution of President Bola Ahmed Tinubu’s policy for crude and petroleum product sales in Naira, saving billions in FOREX, enhancing energy security, improving trade balance, and creating jobs.
Others include completion of Nigeria’s membership in the International Port Community System Association (IPCSA), paving the way for the National Single Window (NSW) project, technical guidance enabling a significant rise in transhipment cargo at Lekki Deep Seaport, serving landlocked neighbours and recovering cargo lost to competing ports.
Another achievement made under the leadership of Danthoso was his electorial victory as the President of the Port Management Association of West & Central Africa (PMAWCA), with Dr. Dantsoho also leading PAPC, boosting Nigeria’s diplomatic standing and securing re-admission to IMO Category C.
Champions Newspaper conferred the award in appreciation of NPA’s pivotal role as a leading trade facilitation platform driving national economic prosperity through Nigeria’s maritime endowments.
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