Court adjourns ruling in N1bn alleged subsidy fraud

Bartholomew Madukwe

12 Decemberr 2012, Sweetcrude, Lagos — A Lagos State High Court in Igbosere Tuesday adjourned ruling on the bail application of Abubakar Ali Peters (son of a retired Commissioner of Police), who was arraigned for fraudulently obtaining over N1 billion from the Federal Government through petroleum Support Fund, till December 18.

Peters was arraigned alongside Nadabo Energy Limited by the Economic and Financial Crimes Commission, EFCC, on a two count offence of fraudulently obtaining money from the Federal Government through Petroleum Support Fund, an offence said to be contrary to section 8 and punishable under section 1 (2) & (3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

Justice Christopher Balogun said: “The ruling on this bail application is adjourned till 18th December, 2012 at 11a.m. The 2nd defendant will continue to be kept in the custody of EFCC until 18th December, when the ruling shall be given.”

Counsel to the defendant, Mr. Taiwo O. Taiwo (Chairman, NBA Lagos branch), urged the court to admit the 2nd defendant bail and relied on the case of Bamaiyi vs State.

He argued that the offence is a bailable one and it may be said that the accused person is presumed innocent until proven guilty.

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