Court acquits Aliyu Abubakar, Malabu Oil in $1bn fraud case
A Federal High Court in Abuja has acquitted Aliyu Abubakar, Malabu Oil and Gas, and others of $1bn money laundering charges linked to the OPL 245 deal. Read More: https://punchng.com/court-acquits-aliyu-abubakar-malabu-oil-in-1bn-fraud-case-2/
The Federal High Court in Abuja has acquitted Malabu Oil and Gas Limited, the Chairman Aliyu Abubakar, and six other defendants of alleged $1bn money laundering offences linked to the controversial Oil Prospecting Licence 245. Justice Inyang Ekwo dismissed the 43-count charge, stating that the Economic and Financial Crimes Commission (EFCC) failed to prove the allegations beyond reasonable doubt.
The court also faulted the prosecution for proceeding with the case despite a 2018 letter from the Office of the Attorney-General of the Federation (AGF) advising against prosecution due to insufficient evidence.
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