EFCC Re-Arraigns Nadabo Energy Boss Over ₦1.4bn Oil Fraud

The Economic and Financial Crimes Commission (EFCC) has re-arraigned Abubakar Ali Peters, Managing Director of Nadabo Energy Limited, alongside his company before Justice Ismail Ijelu of the Lagos State High Court, Ikeja, over an alleged ₦1.4 billion oil subsidy fraud. The hearing took place on Tuesday, March 31, 2026.

The defendants were previously standing trial before Justice C.A. Balogun, but the case was reassigned following the judge’s retirement. The EFCC is prosecuting Peters and Nadabo Energy Limited on a 27-count charge involving alleged use of forged documents to defraud the Federal Government of Nigeria under the Petroleum Support Fund (PSF).

One of the charges alleges that on April 3, 2012, the defendants fraudulently obtained ₦978,401,732.09 by falsely claiming to have imported 19,488,992 litres of Premium Motor Spirit (PMS) from Ashland SA Geneva, Switzerland, when in reality only 6,505,140.04 litres were imported. The purported delivery involved mother and daughter vessels, including MT American Express, MT Evridiki, and MT St. Vanessa.

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Another count accuses the defendants of forging a Certificate of Marine Insurance no. 0047851, allegedly issued by Staco Insurance Plc, to facilitate obtaining funds under the PSF on October 25, 2011.

Peters pleaded not guilty to all the charges.

During proceedings, prosecution counsel S.K. Atteh requested that the court set a trial date and considered remanding the defendant in a correctional centre. Defence counsel E.O. Isiramen opposed the remand, noting that Peters had been granted bail on December 19, 2012, had complied with all conditions, and had never absconded. He urged the court to allow Peters to continue on his existing bail.

Justice Ijelu ruled in favour of the defence, allowing Peters to remain on bail. Sureties were ordered to appear in court on the next adjourned date to reaffirm their undertaking, and the lawyer was directed to sign an undertaking to produce the defendant for trial.

The court adjourned the matter for May 19, 20, and 21, 2026 for the commencement of trial.

The EFCC has continued to intensify its crackdown on financial crimes in Nigeria’s oil and gas sector, with particular focus on companies allegedly misappropriating subsidy funds. Analysts say cases like Peters’ highlight the ongoing challenges of regulating petroleum transactions and ensuring transparency in subsidy disbursement.

Observers note that convictions in such high-profile cases could serve as a deterrent for other players in the sector involved in large-scale financial fraud.

EFCC Re-Arraigns Nadabo Energy Boss Over ₦1.4bn Oil Fraud

‘I Have Not Resigned’ – Power Minister Adelabu Debunks Viral Resignation Report

Nigeria’s Minister of Power, Adebayo Adelabu, has dismissed viral claims suggesting he has stepped down from office, describing the report as false and misleading.

The clarification was issued through his Special Adviser on Strategic Communications and Media Relations, Bolaji Tunji, who confirmed that the minister remains in office and continues to carry out his duties.

Speaking during a phone conversation on Tuesday, Tunji said the resignation report circulating on social media is fake and should be disregarded.

The rumour was fueled by a purported resignation letter allegedly written by Adelabu to President Bola Tinubu and dated March 26, 2026. In the widely circulated document, the minister was said to have resigned to pursue his governorship ambition in Oyo State.

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Parts of the fake letter claimed that Adelabu expressed gratitude to the president for the opportunity to serve and indicated his intention to focus on contesting for the governorship position.

However, Tunji firmly debunked the document, stressing that it did not originate from the minister and has no official backing.

He reiterated that Adebayo Adelabu has not resigned, nor has he communicated any intention to step down from his position as Minister of Power.

The aide described the development as a deliberate attempt by mischief-makers to spread misinformation, especially amid increasing political activities ahead of future elections.

Despite speculations linking him to political ambitions in Oyo State, Adelabu remains focused on his current assignment, with ongoing efforts to improve Nigeria’s electricity supply and implement reforms in the power sector.

The public has been urged to verify information from credible and official sources before sharing, particularly on sensitive national issues.

‘I Have Not Resigned’ – Power Minister Adelabu Debunks Viral Resignation Report

Benue Declares One-Week Easter Holiday for Civil Servants

The Benue State Government has approved a one-week Easter holiday for public and civil servants, beginning from Tuesday, March 31, 2026, in a move designed to enable workers to fully participate in Easter celebrations.

The directive was issued by Governor Hyacinth Alia, and took effect from 1:00 p.m. on the stated date.

According to an official circular signed by the Permanent Secretary, General Services, Godwin Tighil, on behalf of the Secretary to the State Government, Deborah Aber, workers are expected to resume duties on Wednesday, April 8, 2026.

“The Executive Governor of Benue State, Rev. Fr. Hyacinth Alia, has directed that all Public and Civil Servants should embark on Easter Holiday, effective Tuesday, 31st March, 2026, by 1pm,” the circular stated.

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The government clarified that the holiday does not apply to personnel in essential services, including healthcare workers, security agencies, and other critical sectors. These workers are required to remain on duty to ensure uninterrupted delivery of vital services.

“Those on Essential Services are directed to remain at their duty posts to attend to issues of human and urgent public interests,” the circular added.

The Benue Easter holiday is considered one of the longest breaks granted during the Easter period in recent years, reflecting the administration’s recognition of the importance of the season in the predominantly Christian state.

In his goodwill message, Governor Alia urged residents to reflect on the values of sacrifice, love, and renewal, which define the Easter season. He also called on citizens to continue to pray for peace in Benue State and across Nigeria.

The development has been welcomed by many civil servants, who see the break as an opportunity for rest, spiritual renewal, and family bonding amid current economic realities.

Benue Declares One-Week Easter Holiday for Civil Servants