Alleged $875.7m Fraud: EFCC Re-arraigns Malabu Oil, Abubakar, 6 Others
The Economic and Financial Crimes Commission, EFCC, on Tuesday, re-arraigned Malabu Oil & Gas Limited and seven others on a 67-count amended charge bordering on money laundering.
Others that took fresh plea before the court over their alleged complicity in $875,740,000 fraud, are an oil mogul, Aliyu Abubakar and six companies; 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.
The Defendants pleaded not guilty to the charge that was read to them before trial Justice Inyang Ekwo.
In the suit marked FHC/CR/268/2016, EFCC alleged that Malabu oil alongside Dauzia Etete (Dan Etete), Seidougha Munamuna and Amaran Joseph, both directors of the company, who are currently on the run, “took control of the sum of $401,540,000 paid from the federal government of Nigeria Escrow Account No: 0041451493 IBAN 30CHAS609242411492 with JP Morgan Chase Bank in London into the account 2018288005 of Malabu Oil & Gas Limited domiciled with First Bank of Nigeria Limited.”
The anti-graft agency alleged that Malabu oil negotiated and signed the “block 245 resolution agreement with the federal government of Nigeria 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.”
Abubakar, on the other hand, was accused of using his companies to receive monies which were proceeds from the Malabu oil deal.
Justice Ekwo fixed Thursday to commence hearing on the matter. Meanwhile, some of the charges against nthe Defendants read: “That you Malabu Oil & Gas Limited, Seidougha Munamuna ( at large), Amaran Joseph( at large) and Dauzia Loya Etete (at large) on or about 30th August 2013, in Abuja, within the jurisdiction of this Honourable court took control of the sum of $74,200,000.03(Seventy Four Million, Two Hundred Thousand United States Dollars, Three cents) paid from the Federal Government of Nigeria Escrow Account No: 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), when you reasonably ought to have known that the funds formed part of an unlawful activity to wit: negotiation, signing and payment in respect of the Block 245 Resolution Agreement between the Federal Government of Nigeria with Shell Nigeria Ultra Deep Limited, Nigerian National Petroleum Corporation, Nigeria Agip Exploration Limited, Shell Nigeria Exploration and Production Company Limited whereby taxes, accruals and royalties due to the Federal Government of Nigeria were unlawfully waived and you thereby committed an offence contrary to Section 15(2) (d) of the Money Laundering Prohibition Act 2011(as amended) and Punishable under section 15(3) and 15(4) of the same Act.
“That you, Aliyu Abubakar, a director of and signatory of the bank account of Carlin International Nigeria Limited; sometime in January 2014, in Abuja, within the Abuja Judicial Division of the Federal High Court, aided the company in failing to develop programmes to combat money laundering and other illegal acts, to wit: failure to establish within Carlin International Nigeria Limited, an internal audit unit to ensure compliance and effectiveness of measures taken to enforce the Money Laundering Prohibition Act 2011 (as amended), contrary to section 16(1) (f) read together with section 9 (1)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence contrary to section 18(a) of the same Act and punishable under section 16 (2)(b) of the same Act.
“That you, Carlin International Nigeria Limited, being a Designated Non-Financial Institution; and Aliyu Abubakar, a director of and signatory to the bank account of Carlin International Nigeria Limited; on or about the 15th February 2012, in Abuja, within the jurisdiction of this Honourable Court, failed to report in writing to the Economic and Financial Crimes Commission, a funds transfer of the sum of N300,000,000.00 (Three Hundred million Naira) from Mohammed Bello Adoke into your bank account No. 0020302827 domiciled in Unity Bank Plc., contrary to Section 16(1) (f) read together with section 10(1)(b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and you thereby committed an offence under section 10(3) and punishable under section 16(2)(b) of the same Act”
