EFCC Re-arraigns Nadabo Energy Boss for N1.4bn Fraud

On March 31, 2026, the Economic and Financial Crimes Commission (EFCC) re-arraigned Ali Peters, the boss of Nadabo Energy Limited, at the Lagos State High Court, presided over by Justice Ismail Ijelu. Peters, alongside Nadabo Energy Limited, faces 27 counts of alleged fraud totaling N1.4 billion.

The charges include fraudulently obtaining N978,401,732.09 from the Nigerian government under the Petroleum Support Fund by submitting false claims regarding the importation of 19,488,992 liters of premium motor spirit. The fraudulent activities reportedly occurred on April 3, 2012, and October 25, 2011.

The case was reassigned to Justice Ijelu following the retirement of Justice C. Balogun.

Peters has pleaded not guilty to the charges. The prosecution, led by S.K.

Atteh, requested a trial date, while defense counsel E.O. Isiramen objected to the prosecution's request to remand Peters, arguing that he had previously been granted bail.

Justice Ijelu ruled that Peters would continue on existing bail and ordered him to appear at the next adjourned date, set for May 19, 2026.