The
Economic and Financial Crimes Commission, EFCC, on Wednesday January
16, 2013, presented its first witness in the on-going trial of Nadabo
Energy Limited and Abubakar Ali Peters who are being prosecuted over a
N1.5billion subsidy scam before Justice C. A. Balogun of the Lagos High
Court, Igbosere.
At
the resumed hearing, prosecution counsel, Ben Ubi asked the witness,
Mrs. Omolara King, a senior field officer with the Petroleum Product
Pricing Regulatory Agency, to explain to the court the processes of
procurement, approval and conditions to be met before a company can
partake in the Petroleum Support Scheme.
King
confirmed that Nadabo Energy participated in the subsidy scheme. She
told the court that the first defendant joined the scheme in the first
quarter of 2010 and participated fully till the end of 2011. “During
this period, I believe it imported products but I don’t know the
quantity imported. Quantity allocated to the defendant during this
period was 45,000 metric tons and I don’t know how much has been paid to
the defendant”, she said.
1st and 2nd
defendant’s counsel, Taiwo .O. Taiwo, while cross-examining the witness
asked her to confirm whether the two defendants were qualified to
participate in the scheme. She acknowledged that they were eligible but
could, however, not disclose to the court whether they fully conformed
to the rules governing the subsidy regime.
Nadabo
Energy Limited and Abubakar Ali Peters are being prosecuted on a two
count charge bordering on conspiracy to obtain money by false pretences
and falsely claiming that 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)
represented subsidy accruing to them under the Petroleum support Fund
for the importation of Premium Motor Spirit (PMS).
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