Nigeria: Malabu Oil - Court Acquits Abubakar, Others On Money Laundering Charges
Justice Inyang Ekwo said the EFCC failed to prove the money-laundering charges beyond reasonable doubt and faulted the agency’s case after a 2018 AGF directive.
- On Thursday, the Federal High Court in Abuja discharged and acquitted Malabu Oil and Gas Limited, Oil Chairman Aliyu Abubakar, and six corporate defendants of money laundering charges linked to the OPL 245 oil block.
- Justice Inyang Ekwo faulted the Economic and Financial Crimes Commission investigation, finding officials filed charges without concluding their probe and disregarded a 2018 directive from then-Attorney-General of the Federation Abubakar Malami advising against prosecution.
- Prosecutors alleged the defendants diverted $401,540,000 and $400 million from the Federal Government linked to the $1.3 billion OPL 245 oil block, yet the court found insufficient evidence to sustain these money laundering claims.
- This judgment resolves two separate proceedings, including a case involving former Attorney-General Mohammed Bello Adoke, who was previously acquitted in April 2024 after the court upheld his no-case submission regarding a separate N300 million payment.
- Emphasizing legal hierarchy, Justice Ekwo stated that a prosecuting agency should not disregard the Attorney-General's directive, adding the court would not endorse actions where different arms of the state act against one another.
13 Articles
13 Articles
Nigeria: Malabu Oil - Court Acquits Abubakar, Others On Money Laundering Charges
The Federal High Court in Abuja on Thursday discharged and acquitted oil mogul Aliyu Abubakar, who was accused of complicity in the criminal diversion of funds linked to the Malabu Oil & Gas Limited deal.
Malabu Oil: Court acquits Abubakar, others on money laundering charges
By Ikechukwu Nnochiri ABUJA – The Federal High Court in Abuja on Thursday discharged and acquitted oil mogul Aliyu Abubakar, who was accused of complicity in the criminal diversion of funds linked to the Malabu Oil & Gas Limited deal. The court, in a judgment delivered by Justice Inyang Ekwo, also discharged seven other defendants […]
Malabu Oil Funds: Court Frees Aliyu Abubakar, 7 Others From Money Laundering Charges
Justice Inyang Ekwo of the Federal High Court in Abuja has cleared businessman Aliyu Abubakar and seven others of allegations of money laundering, criminal misappropriation, forgery and other offences relating to the management of Malabu Oil and Gas Limited’s funds. The court delivered two separate judgments on Thursday, holding that the Economic and Financial Crimes […]
Alleged $1 Billion Fraud: Court Discharges, Acquits Malabu Oil, Aliyu Abubakar, Others
Alleged $1 Billion Fraud: Court Discharges, Acquits Malabu Oil, Aliyu Abubakar, Others The Federal High Court in Abuja on Thursday dismissed an alleged one billion U.S dollars money laundering charge filed against Malabu Oil and Gas Company; a businessman man, Aliyu Abubakar, and others by the Economic and Financial Crimes Commission (EFCC). Justice Inyang Ekwo, in a judgment, held that the EFCC had failed to prove the allegations against the e…
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