Court Acquits Aliyu Abubakar and Malabu Oil in Fraud Case

The Federal High Court in Abuja discharged and acquitted businessman Aliyu Abubakar, Malabu Oil and Gas Limited, and six other defendants in a $1bn money laundering case related to Oil Prospecting Licence 245. Justice Inyang Ekwo delivered the judgment on Thursday, stating that the Economic and Financial Crimes Commission (EFCC) did not prove the allegations against the eight defendants beyond reasonable doubt.

The case involved a 43-count charge filed in December 2016 over alleged fraudulent dealings with OPL 245. Justice Ekwo criticized the EFCC for proceeding with the prosecution despite a 2018 letter from the Office of the Attorney-General of the Federation, then led by Abubakar Malami, which advised against prosecution due to insufficient evidence.

The judge emphasized that investigations must be concluded before charges are filed and stated that no prosecuting agency is superior to the Attorney-General. Consequently, he ordered the discharge and acquittal of all defendants.