Court acquits Aliyu Abubakar, Malabu Oil in $1bn fraud case

The Federal High Court in Abuja has acquitted businessman Aliyu Abubakar, Malabu Oil and Gas Limited, and six other defendants in a $1bn money laundering case linked to the controversial Oil Prospecting Licence 245. Justice Inyang Ekwo ruled that the Economic and Financial Crimes Commission (EFCC) failed to prove the allegations against the eight defendants beyond reasonable doubt.

The court found that the investigation had not been concluded before the defendants were charged, and that the prosecution proceeded despite a 2018 letter from the Office of the Attorney-General of the Federation advising against the prosecution on the grounds of insufficient evidence. The judge emphasized that no prosecuting agency is higher in law than the Attorney-General of the Federation, and that government prosecuting agencies should not work at cross purposes.

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