Alleged $876m fraud: EFCC re-arraigns Malabu Oil, Abubakar, others
The Economic and Financial Crimes Commission (EFCC) on Tuesday re-arraigned Malabu Oil & Gas Limited, Aliyu Abubakar and 6 others before Justice I. E. Ekwo of the Federal High Court sitting in Abuja.
Others were: A Group Construction Company Limited, Rocky Top Resources Limited, Megatech Engineering Limited, Novel Properties and Development Company Limited, Imperial Union Limited and Carlin International Nigeria Limited.
They were all arraigned on 67 amended charges, bordering on money laundering to the tune of $875,740,000.
Bala Sanga, EFCC Counsel, told the court that he was ready to prosecute the amended charges and for the eight defendants to take their pleas.
Count one said Malabu Oil, Seidougha Munamuna (at large), Amaran Joseph (at large) and Douzia Loya Etete (at large), on or about the 24th day of August 2011, in Abuja, took control of the sum of $401,540,000 paid from Federal Government of Nigeria’s escrow account no: 0041451493 IBAN 30CHAS609242411492 with JP Morgan Chase Bank in London into account 2018288005 of Malabu Oil & Gas Limited domiciled with First Bank of Nigeria Limited.
EFCC said they ought to have known that the funds formed part of unlawful activity in respect of the Block 245 Resolution Agreement between the FGN with Shell Nigeria Ultra Deep Limited, Nigerian National Petroleum Corporation, Nigeria Agip Exploration Limited, and Shell Nigeria Exploration and Production Company Limited, whereby taxes, accruals and royalties due to the Federal Government of Nigeria were unlawfully waived.
Count two noted that on same day, they took control of the sum of $400,000,000 aid from FGN escrow account no: 0041451493 IBAN 30CHAS6092424411492 with JP Morgan Chase Bank in London into the account No. 1005552028 of Malabu Oil & Gas Limited domiciled with Bank PHB Plc (now Keystone Bank Limited, Account No. 3610042472).
Count three said on or about 30th August 2013, in Abuja, they took control of the sum of $74,200,000 paid from FGN escrow account bo: 0041451493 IBAN 30CHAS609242411492 with JP Morgan Chase Bank in London into the account No. 1005552028 of Malabu Oil & Gas Limited domiciled with Bank PHB Plc (Now Keystone Bank Limited Account No.3610042472).
After the reading, the defendants pleaded not guilty to all the sixty-seven charges.
Sangan then prayed the court to grant trial commencement date.
Justice Ekwo adjourned the matter to September 10, 2020.
The judge presumed that the defendants continue with their bail.